Dollar General recently reported overachieving results from their third quarter and have announced aggressive remodeling plans for this coming year. Dollar General will work on 2,000 projects in 2018 with the emphasis on remodeling. They are currently planning to open 900 new stores, remodel 1,000 sites, and relocate 100 stores. Dollar General’s CEO, Todd Vasos, “believes in investing in the business through their high-return new store growth to help drive long-term shareholder value.” They want to help their customers in saving time and money while shopping at Dollar General.
Neil Saunders, managing director of GlobalData Retail, said they are going to be relocating their new Dollar General stores in metropolitan areas. Their stores for the most part can be found in the rural areas. Dollar General’s net income has risen to $252.5 million from $235.3 million over the year-ago period. Net sales have increased 11% to $5.90 billion. Lastly, same-store sales rose 4.3% which the company has attributed to their customer traffic.
Their company forecast for 2017 shows their net sales growth by 7% and forecasts same-store sales growth by 3%. Dollar General currently operates 14,321 stores in 44 states and hopes to have a successful 2018 with their new restructuring.