“Dollar General’s continued growth reflects our customers’ increasing satisfaction with our everyday low prices and convenience,” said CEO Rick Dreiling. “Further, 2013 will mark another growth milestone as we plan to open the organization’s 11,000th store before the year’s end when we will begin our 75th anniversary in 2014.”
If this story looks familiar its because we reported nearly the same thing a year ago when the discount retailer announced it would open 625 stores in 2012.
Dollar General reported third-quarter net income up 21 percent in November.
Dollar General, which operates stores in 40 states, was founded in Kentucky in 1939 as J.L. Turner and Son Wholesale. In 1955, The Turner department store changed its name to Dollar General Store and charged no more than one dollar for any item. The company went public in 1968 and by 1977, sales exceeded $100 million a year. Dollar General opened its 5,000th store in 2001 and its 9,000th in 2010. The retailer, which no longer sells everything for under a dollar, says it currently does more than $13 billion in sales a year.