As part of the Company’s financial growth strategy, American variety store chain Dollar General Corp, which is also into apparel retailing, plans to open around 900 new stores and relocate or remodel at least 875 stores in this financial year.
The company is also aiming to set up 1,000 new stores and relocate or remodel around 900 stores in 2017, as part of its growth model of six to eight per cent square footage growth.
Dollar General, headquartered in Goodlettsville, Tennessee, intends to use its financial growth model in discussions of its business in 2016 and in all future years.
“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. 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,” said Todd Vasos, Dollar General’s chief executive officer. As per a company statement, its annual target for net sales is a hike of 7 – 10 per cent, while its same-store sales is target is about 2 – 4 per cent. It is aiming for a rise in operating profit of 7 to 11 per cent. The Company is currently focussing on a long-term shareholder value creation.
Dollar General Corporation offer frequently-used-and-replenished products, like food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at low, everyday prices, in convenient neighborhood locations. Having 12,483 stores in 43 states as of January 29, 2016, Dollar General is among the largest discount retailers in the United States. The company also sells products from America’s most-trusted manufacturers such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg’s, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola.
