Dive Summary:
- On Thursday, Dollar General announced that it plans to open 700 new Dollar General Stores in the U.S. by the end of 2014.
- Through the first nine months of 2012, Dollar General opened 577 new locations and now controls over 11,000 stores in the U.S.
- Dollar General will utilize its current expansion model to increase its retail footprint in 2014 by roughly 6% total square feet.
Dive Insight:
Total sales revenue for Dollar General rose 10.5% in the third quarter of 2013 – reaching $4.3 billion as profits for the company increased 14% - strong results for the discount retail chain. "Looking ahead, while we are cautious on the current macroeconomic trends, we remain excited about the long-term growth prospects for our business,” said Rick Dreiling, Dollar General CEO.
