How To Download The Dollar General App

Dollar General has its origin in Scottsville, Kentucky, with James Luther "J.L." Turner and his son Cal Turner. James Turner's father died in an accident in 1902 when James was only 11. James quit school to work on the family farm, helping to provide for his mother and siblings, and subsequently never completed his education. After two unsuccessful attempts at retailing, James became a traveling dry goods salesman for a Nashville wholesale grocer. James left the sales job after 10 years and settled his family in Scottsville, Kentucky. During the Great Depression, he began buying and liquidating bankrupt general stores. James' only child Cal Turner accompanied his father to these closeouts at a young age, gaining valuable business knowledge and skills.[14]

In October 1939, James and Cal opened J.L. Turner and Son with an initial investment of $5,000 each. The switch to retailing resulted in annual sales above $2 million by the early 1950s. By the mid-1950s Turner had 35 department stores in Kentucky and Tennessee. In 1955, Cal Turner developed his idea of a retail store selling goods for a dollar, based on the Dollar Days promotions held at other department stores, by converting Turner's Department Store in Springfield, Kentucky, into the first Dollar General Store.[15] In 1964 J.L. Turner died leaving his son Cal Turner to succeed him.

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In March 2020, the retailer announced plans to expand produce assortments to approximately 400 stores in addition to the 650 stores where it is already in place during its 2020 fiscal year. In February 2019, the University of Nevada, Las Vegas published a story, which found that the quality of fruits and vegetables at dollar stores is just as good as regular grocery store produce.[80]

Dollar General is the biggest of the so-called dollar store chains. As is sometimes misconstrued, its merchandise is not restricted to a $1 price tag, unlike at some of the other "dollar store" chains. Chris Merritt, with the Illinois Institute for Rural Affairs, says Dollar General has had a profound impact on rural America.

Thank you, and good morning, everyone. On the call with me today are Todd Vasos, our CEO; and Kelly Dilts, our CFO. Our earnings release issued today can be found on our website at investor.dollargeneral.com under News and Events. Let me caution you that today's comments include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, such as statements about our financial guidance, strategy, initiatives, plans, goals, priorities, opportunities, expectations or beliefs about future matters, and other statements that are not limited to historical fact.

As we have previously announced, we are investing approximately $150 million in store labor hours this year. After review, we continue to believe this level of investment is appropriate. But as we do with every dollar we invest, we must ensure we are spending it to drive the greatest return, which means we are directly helping our store teams support our customers. With that in mind, we have made the decision to redeploy labor hours away from smart teams and, instead, more directly to our store teams and a greater emphasis on customer service and store-level inventory management activities.

Net sales in the third quarter increased 2.4% to $9.7 billion, compared to net sales of $9.5 billion last year's third quarter. Within our net sales growth, we again grew market share in both dollars and units in highly consumable product sales, as well as an overall non-consumable product sales. Same-store sales decreased 1.3% in Q3, which was in line with our expectations. The decrease was driven by a decline in average transaction amount, primarily driven by units, and included declines in all four product categories.

We're also, though, taking a fresh approach to look to it from a standpoint of return, right? And so, not only a general look at it, but also looking at it from the standpoint of shrink and other areas of components that go into a SKU. And is it still profitable? With shrink being elevated, a lot of it in our control, some not in our control, there may be SKUs -- and by the way, there are SKUs that we'll be dropping due to the amount of shrink that is in our store as well. So, it's going to be a fresh look across the portfolio SKUs we carry with the consumer in mind first, but also profitability in mind throughout the entire supply chain through our stores. So, more to come. 2351a5e196