Inside This Issue - News
Dollar chains hit milestones
October 21st, 2013
NEW YORK – Dollar General Corp. and Family Dollar Stores Inc. reached expansion milestones this month. Dollar General opened its 11,000th store, in Murfreesboro, Tenn.; while Family Dollar debuted its 8,000th, in Lancaster, S.C.
Driving growth for both companies has been the addition of food and tobacco products.
"We are seeing a significant increase in our traffic, and tobacco has been a key driver," Dollar General chairman and chief executive officer Rick Dreiling said in a conference call discussing second quarter results.
The retailer premiered 375 outlets through the first half and has raised its new store outlook for the year to 650, he added.
The chain continues to test new ideas in the Dollar General Market format, Dreiling noted, particularly in the fresh meat and produce categories.
Howard Levine, chairman and CEO of Family Dollar, said in a conference call discussing his company’s fourth quarter that the chain plans to add 525 stores in fiscal 2014. "Our new store productivity remains strong," he said. "And our robust new store pipeline continues to reflect our opportunity to sustain annual square footage growth of 5% to 7%."
The retailer will also maintain a comprehensive remodeling program, with plans to renovate, relocate or expand some 850 units.
Family Dollar president and chief operating officer Michael Bloom said fourth quarter refrigerated and frozen food sales exceeded expectations, and that tobacco continues to drive traffic and sales.