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Dollar General Plans For 2,000 Real Estate Projects In 2018

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Last updated on December 28th, 2017 at 11:00 am

Along with a third quarter report that showed a net sales increase of 11 percent and a same-store sales increase of 4.3 percent, Dollar General announced an aggressive 2018 plans for its store base. The Goodlettsville, Tennessee-based discounter expects 2,000 real estate projects, including 900 new stores, 1,000 store remodels and 100 store relocations.

For the third quarter, which ended Nov. 3, 2017, net sales were $5.90 billion compared to $5.32 billion in the 2016 third quarter. The same-store sales increase of 4.3 percent was attributed to increases in average transaction amount and customer traffic, including an estimated 30 to 35 basis point net benefit from hurricane-related sales, the retailer said. Same-store sales increases also were driven by positive results in the consumables, seasonal and apparel categories, partially offset by negative results in the home products category. The net sales increase also was positively affected by sales from new stores, modestly offset by sales from closed stores, it said.

Todd Vasos, Dollar General CEO, said, “We remain excited about the future for Dollar General…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 customer save time and money every day.”

For the 39 weeks year to date, net sales increased 8.5 percent over the prior-year period to $17.3 billion. Same-store sales increased 2.6 percent due to increases in average transaction amount and customer traffic, Dollar General said. When compared to the 2016 39-week period, 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. The net sales increase also was positively affected by sales from new stores, modestly offset by sales from closed stores, much like the third quarter.

As of Nov. 3, Dollar General operated 14, 321 stores in 44 states. The stores sell food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items.

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