The most populace of all brick and mortar retail chains presently operates over 18,000 stores throughout the United States. What is the truth behind the recent rumors of business issues?
This article is based on corporate postings and accredited media reports. All linked information within this article is fully-attributed to the following outlets: Wikipedia.org, Fortune 500, BusinessInsider.com BestLifeOnline.com, Newsweek.com, and CNN.com.
According to Wikipedia.org: Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee. As of April 11, 2022, Dollar General operates 18,216 stores in the continental United States.
In terms of the number of its U.S. locations, Dollar General is the top brick and mortar store chain in the country.
Wikipedia goes on to state: The company began in 1939 as a family-owned business called J.L. Turner and Son in Scottsville, Kentucky, owned by James Luther Turner and Cal Turner. In 1955, the name changed to Dollar General Corporation and in 1968 the company went public on the New York Stock Exchange. Fortune 500 recognized Dollar General in 1999 and in 2020 reached #112. Dollar General has grown to become one of the most profitable stores in the rural United States with revenue reaching around $27 billion in 2019.
The company has been financially successful for years. And yet, as with so many retail chains, a targeted internet search will result in questions related to the chain possibly going out of business.
Such questions appear to be most frequently related to a misread of sensational article headlines such as “The Dollar Store is Officially Dead,” from Business Insider. Said article, in fact, was not about Dollar General, but the similarly named Dollar Tree. Further, the Business Insider article did not report the latter company as going out of business at all; instead, it regarded the store now selling items for over a dollar.
There are still other ‘dollar stores’ in the U.S. that have caused further confusion, such as Family Dollar and more. Stories about such stores have reported various stages of business success or failure. With the similar names, confusion is understandable.
As with the Business Insider piece, BestLifeOnline.com in February of this year published “This Popular Dollar Store Just Closed Over 400 Locations.” Once again, a read of the article elucidates the store in question was Family Dollar, and not Dollar General. Further, the closures were temporary, and due primarily to rat infestations and unsanitary conditions.
Neither of the above issues are related to Dollar General, however, on which we will focus and explore further.
Dollar General Status, 2022
In October, 2021, Newsweek published “The Most Populous Chain Stores in America.” Dollar General was in the top spot. The article explains that despite the recent prevalence of pandemic-related eCommerce, in-person shopping at some brick and mortar locations are as strong, or stronger, than they’ve ever been.
As excerpted from the article: The retailer with the greatest physical store presence in the U.S sells an assortment of the most popular brands at competitively low prices. Dollar General has grown to become one of the most profitable stores in rural America, reaching revenue of approximately $27 billion in 2019.
In fact, Dollar General is doing so well it is in the midst of an expansion. See here for December, 2021 CNN report, “Dollar General is Targeting New Customers With a New Store Model and Name.“
As stated in the article: Dollar General has become a retail empire by building small stores in rural towns across America to attract mainly low-income shoppers. Now, the company will expand its push to win wealthier customers in the suburbs using a new store model and name: Popshelf.Dollar General (DG) said Thursday it will open 1,000 Popshelf stores over the next four years.
There appears to be nothing to worry about regarding this company’s current business strength.
Dollar General is in very healthy financial shape, and is in no known danger of shuttering.
Thank you for reading.