Capitalizing on Consumers' Tight Pockets, Dollar Store Retailer Staying Agressive in 2010
Dollar General Corporation (NYSE: DG
) recently reported that for the first nine months of this year, the company reported a 296% increase in net income from 2008 to $63.7 million. Dollar General said a significant increase in customer traffic and average transaction amount drove a 10.3% increase in same store sales for the period -- remarkable in comparison to the sales performance of most other retailers this year.
During 2010, Dollar General plans to open 600 new stores, as well as remodel or relocate 500 stores. This follows 500 new store openings and 450 remodels or relocations carried out during 2009. The retailer currently operates 8,720 stores in 35 states.
Dollar General's preferred site criteria provides for a 9,014-square-foot building with a minimum of 30 parking spaces and accessible truck delivery, plus availability of pylon signage. The company looks for high visibility and full ingress / egress at a location along a retail corridor with good traffic -- it considers both shopping center and freestanding opportunities.
This article appears in CoStar's Retail News Roundup: December 2009
This week in the Retail Roundup, CoStar reports on expansions or new concepts
at electronics chains; closings, cutbacks, defaults, or bankruptcy news
at General Growth, The Walking Company, USPS, Joffco Square, auto dealerships, and Bully Sports Bar; acquisition, merger, loan, sale, or IPO activity
at Simon and Prime Outlets and West Oaks Mall; new retail development news
in Florida and Las Vegas ; personnel or corporate announcements
at Feldman Mall Properties, Jones Lang LaSalle, Marcus & Millichap, CBL; and more.