Dollar General to open 900 new stores in 2018

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Dollar General to open 900 new stores in 2018

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Dollar General will open 900 new stores in 2018, the company announced during a recent earnings report.

The discount retail chain saw 4.3 percent increases in both average transaction amount and customer traffic over 2016 third quarter. Company officials said it has plans to create 900 new stores, remodel 1,000 stores and relocate 100 stores.

“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,” said Todd Vasos, Dollar General’s chief executive officer.

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Net sales increased 11 percent to $5.90 billion in the 2017 third quarter compared to $5.32 billion in the 2016 third quarter. The company’s net income was $253 million, or $0.93 per diluted share, in the 2017 third quarter.

“We remain excited about the future for Dollar General,” Vasos said. “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.”

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