It’s been a rough couple of years for dollar stores, which have struggled with shifting consumer demand and inflation.
Most, if not all, have decided to raise their prices above the one-dollar mark, compromising their competitive advantage. Major chains, including Family Dollar and Dollar Tree, have closed hundreds of locations.
Now, you can add another major discount retailer to the list.
Dollar General is planning to shutter 96 locations and 45 of its Popshelf stores during the first quarter of 2025, the company announced in its fourth-quarter earnings report.
“As we look to build on the substantial progress we made on our Back to Basics work in fiscal 2024, we believe this review was appropriate to further strengthen the foundation of our business,” said CEO Todd Vasos. “While the number of closings represents less than one percent of our overall store base, we believe this decision better positions us to serve our customers and communities.”
The specific locations slated for closure weren’t released.
Dollar General reported its fourth-quarter operating profit decreased by 49% to $294.2 million and was down 30% for the entire fiscal year. Annual cash flows, however, increased by 25%.
Dollar General’s website states that the company runs over 20,000 stores, including Dollar General, DG Market, DGX, and Popshelf, across 48 states.
