It was a rough year for dollar stores, which have struggled with changing consumer demand and inflation.
Most, if not all, have decided to outweigh the $1 mark and undermine the competitive advantage. Major chains, including family dollars and dollar trees, have closed hundreds of locations.
Now you can add another major discount retailer to your list.
Dollar General plans to close 96 locations and 45 pop shelf stores in the first quarter of 2025, the company announced in its fourth quarter revenue report.
“If we try to make substantial progress by turning our back on basic work for 2024, we believe this review is a good fit to further strengthen our business foundation,” said CEO Todd Bassos. “The number of closures represents less than 1% of the overall store foundation, but with this decision, we believe it’s better to serve our customers and our community.”
Dollar goods store. (Getty Images).
No specific locations are scheduled to close have been released.
Dollar General reported operating profit declined 49% in the fourth quarter to $294.2 million, a 30% decline throughout the fiscal year. However, annual cash flow increased by 25%.
The Dollar General website states that the company operates more than 20,000 stores in 48 states, including Dollar General, DG Market, DGX and Popshelf.
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