Dollar General’s third-quarter results took a hit as multiple hurricanes impacted its business, but it still managed to top sales estimates.
“We are pleased with our team’s execution in the third quarter, particularly in light of multiple hurricanes that impacted our business,” said Todd Vasos, CEO of Dollar General. “While we continue to operate in an environment where our core customer is financially constrained, we delivered same-store sales near the top end of our expectations for the quarter.”
Looking ahead, the discounter is planning a major increase in planned real estate projects for fiscal 2025 (ends 30 January 2026), which includes opening approximately 575 new stores in the US and up to 15 new stores in Mexico. It also plans to fully remodel approximately 2,000 stores as well as remodel approximately 2,250 stores through Project Elevate and relocate approximately 45 stores. In all, the company will execute about 4,885 real-estate projects.
“In particular, we are enthusiastic about Project Elevate, which introduces an incremental remodel initiative within our mature store base,” said Kelly Dilts, CFO of Dollar General. “This initiative is aimed at our mature stores that are not yet old enough to be part of the full remodel pipeline. We believe we will enhance the customer experience with a lighter-touch remodel, including customer-facing physical asset updates and planogram optimisations and expansions across the store.”
