All new stores, remodels and relocations will sport the new look (featuring fresh paint and wider aisles), with approximately 250 to 300 stores to be remodeled this year. In addition, the company plans 450 new stores this year, 104 of which were opened in the first quarter. The new units are contributing quickly to a significant sales increase, said Rick Dreiling, chairman and chief executive officer.
"Our real estate people have become increasingly analytical over the last couple of years," Dreiling said. "Our new stores are more productive and ramping up faster."
Sales for the quarter were $2.78 billion, up 15.7% from the first quarter of 2009. Same-store sales increased 13.3% percent for the quarter. Net income was $83 million, up from $5.9 million in the prior-year quarter.
As of May 1, 2009, Dollar General operates 8,462 neighborhood stores, located in 35 states.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
