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Dollar General plans to open 900 new stores in 2018

Published 08 December 2017

Discount retailer Dollar General is planning to open 900 new stores across the US in 2018.

The company released financial results for its fiscal 2017 third quarter ended 3 November 2017, and it showed same-store sales growth at 4.3%.

Net sales increased 11% to $5.90bn, from $5.32bn. The company said same-store sales increases were driven by positive results in the consumables, seasonal and apparel categories, partially offset by negative results in the home products category.

For fiscal 2017, the company plans to open about 1,285 new stores, apart from remodeling or relocating 760 stores.

Net income was $253m, or $0.93 per diluted share, in Q3, compared to $235m, or $0.84 per diluted share, for the same period last year.

The company said gross profit, as a percentage of net sales, was 29.9% in the 2017 Q3, an increase of eight basis points from the last year’s third quarter.

For the 52-week fiscal year ending 2 February 2018, Dollar General is updating various components of its guidance issued on 31 August 2017.

The company has narrowed its fiscal 2017 GAAP diluted earnings per share to $4.37 to $4.47, compared to its previous guidance range of $4.35 to $4.50.

Dollar General chief executive officer Todd Vasos said: “For fiscal 2018, we have plans to execute approximately 2,000 real estate projects comprised of 900 new stores, 1,000 store remodels and 100 store relocations.

“We continue to believe that investing in the business through our high-return new store growth is the best use of our capital to help drive long-term shareholder value.

“Our new store growth is complemented with a significant increase in our store remodel program from fiscal 2017 that we view as an investment to enhance and consistently deliver on our brand promise to help our customers save time and money every day.”


Image: Dollar General registered same-store sales growth of 4.3% in Q3. Photo: courtesy of Dollar General Corporation.