Dollar General to Open 11,000th Store in 2013
As part of its continuing expansion, Dollar General plans to add 635 stores and move 550 existing locations during 2013. Fourth quarter same stores sales increased 3% for the company, and total sales for its 13-week fourth quarter ended February 1, increased 0.5% to $4.21 billion. Currently with more than 10,000 stores in 40 states, the Tennessee-based company has more retail locations than any other retailer in America, and by the end of this year, the 11,000th store will have opened.
“Dollar General had yet another outstanding year in 2012 including exceptionally strong fourth quarter results,” said chairman and CEO Rick Drelling. “We grew our market share and invested strategically to continue to win with our customers. These results demonstrate the strength of our business strategy, and we believe we are very well-positioned for future growth.”
Net income for the fourth quarter was $317 million, and earning per share totaled 97 cents, compared to net income of $293 million, or earnings per share of 85 cents, which benefitted by six cents because of the extra week.
This year, the expansion of selling space and the upgrade of existing space is expected to combine with same store sales growth in the 4% to 6% range to produce total sales growth in the 10% to 12% range. Full year earnings per share are expected to total between $3.15 and $3.30.
During 2012, Dollar General opened 625 new stores and either remodeled or relocated 592 existing stores, ending the year with 10,506 stores. The company believes the U.S. market can accommodate as many as 20,000 of its stores.