Dollar General Q1 Sales Up 6.5% As The Company Focuses On Store Expansion
Dollar General announced strong Q1 store sales Thursday driven by new store openings as the company continues to pursue aggressive store expansion.
The company reported a 6.5% jump in Q1 net sales, which rose from $5.27B over the last year to $5.61B at the end of last quarter, Retail Dive reports. Same-store sales advanced 0.7% last quarter and Dollar General said the Federal Trade Commission approved its acquisition of 322 new stores across 36 states in April.
Those new stores go some ways towards meeting the company’s goal of opening 1,000 new stores by the end of this year. GlobalData retail managing director Neil Saunders told Retail Dive that Dollar General’s expansion strategy is critical, and said it could be the best way for the company to overcome muted same-store sales.