Dollar General Stepping up Small Format Stores
Coming off a record year by several measures, Dollar General will open more of its recently introduced small format stores this year – in both urban and rural communities.
There are now 30 of the 6,000-square-foot boxes, mostly in urban areas. (Dollar General’s standard footprint is 7,400 square feet) “Going forward, we see some real opportunities in those rural areas with fewer households,” ceo Todd Vasos told analystis during the company’s quarter call this morning.
It was a banner year for Dollar General, which broke the $20 billion mark in sales and opened its 12,000th stores. This year, the hard discounter will open 900 new stores, including 80 small format units, and remodel or relocate 875 doors.
For the quarter ended Jan. 29, net income rose 5.9% to $376 million, or $1.30, per share. Sales rose 7.0% to $5.29 billion, with comps up 2.2%.
Home was among the leading categories, with particular strength in housewares and décor.
Fiscal year net income jumped 9.3% to $1.17 billion, or EPS of $3.95. Sales climbed 7.7% to $20.4 billion, with comps up 2.8%.
Source from: Home & Textiles
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