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Dollar General to Double Store Openings

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Dollar General here said Tuesday that it would open 450 new stores this fiscal year, more than doubling last year's total of 207 new store openings. The company will also remodel or relocate approximately 400 stores this year, about the same as in 2008.

The company announced its plans while detailing revenues for the quarter and fiscal year that ended Jan. 30. Quarterly sales of $2.85 billion increased by11.2% from the same period last year, while comparable-store sales improved by 9.4% as strategic operating initiatives throughout the year increased customer traffic and average ticket, officials said.

Sales of consumables, including food, increased by 18.1% during the quarter and now account for 67% of Dollar General's total revenues. Sales for the fiscal year of $10.5 billion increased 10.1%, with comps improving by 9% the company added.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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