Tuesday, December 22, 2015

Dollar General to open 900 stores in 2016

Dollar General said earlier this month that it plans to open 900 new stores in 2016, compared to 730 store openings in 2015. The new stores are planned for urban, suburban and rural locations.

The company also announced its third quarter earnings. Net income rose 7.2% (compared to the previous year's third quarter) to $253 million, and sales increased 7.3% to $5.1 billion.

For the first three quarters, net income climbed 11.1% to $789 million, and sales increased 8% to $15.1 billion.

CEO Todd Vasos told investors that Family Dollar plans to begin rolling out a new prototype in early 2016 that features a more customer-friendly layout, faster checkouts and optimized assortments. The prototype will also increase the number of products offered in coolers, with "anything from immediate-consumption beverages to additional frozen, dairy and perishable-type products."

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