vnews.com – It’s no secret that the retail industry is in turmoil: Dozens of chains have filed for bankruptcy protection this year, and many others are closing hundreds of stores.
But Dollar General, the Tennessee-based discount chain, is bucking the trend. The company said sales rose 11 percent in the most recent quarter, as it beefed up its selection of frozen foods and added produce to some of its locations. It is opening about 900 new stores next year, and remodeling 1,000 more.
The goal: To become as convenient as it is affordable. The company is focusing not just on rural areas, where many of its customers already stop by for necessities, but also in larger metropolitan areas where it is hoping to attract a new group of more affluent customers. By the end of this year, executives say 75 percent of Americans will live within 5 miles of a Dollar General.
“We continue to believe we operate in one of the most attractive sectors in retail,” chief executive Todd Vasos said in a Thursday morning call with analysts. “Our customer loves the in-store treasure hunt for unique items.”