Wednesday, February 11, 2009

Dollar General to Speed Up Openings After Sales Rose

Bloomberg reports that stellar sales have lead Dollar General executives to speed up store openings around the United States. In a tough economy, Dollar General is seeing gains as shoppers look to save pennies at the grocery and home goods retailer. Wal-Mart and McDonald's have also seen a large gain in stock prices--and in profits as the United States sinks deeper into recession. According to Bloomberg, Dollar General bought by private equity firm KKR & Co. in 2007 for $7.3 billion, plans to open about 450 new stores in 2009 and remodel or relocate about 400 others. In fiscal 2008, it opened 207 new stores, relocated or remodeled 404, and closed 39, ending the year with 8,362 U.S. locations.
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