Dollar General Announces Expansion

The discount chain has plans to open around 1,000 new units during fiscal 2017.
March 28, 2016

GOODLETTSVILLE, Tenn. – Dollar General has revealed its plans to add about 1,000 units during fiscal year 2017, Retail Dive reports. This is in addition to its goal of opening approximately 900 new stores and relocating or remodeling 875 stores in fiscal 2016. For fiscal 2017, the company will also relocate or remodel around 900 stores, in line with its growth model of 6% to 8% square footage growth.

Discount stores have been thriving lately. Dollar General reported fourth-quarter sales increases of 7% and same-store growth of 2.2%. The chain is predicting yearly sales advances of between 7% and 10%. Last year, Dollar General added 730 new locations and revamped or moved an additional 881 stores.

“Dollar General has a powerful strategic plan that enables us to drive both the top line and bottom line to deliver strong financial returns as outlined in our growth model over the long-term,” said Todd Vasos, CEO, in a press release. “With strong cash flow and an efficient capital structure, we believe that we have a compelling opportunity to invest for growth while also returning cash to shareholders through consistent share repurchases and anticipated quarterly dividends.”

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