Thursday, September 30, 2010
SWOT
Dollar General is the largest discount retailer in the United States by number of stores with over 8,700 neighborhood stores in 35 states. So location is definitely a strength for them. Dollar General helps shoppers Save time. Save money. Every day! by offering quality private and national branded items that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, house wares and seasonal items at everyday low prices in convenient neighborhood stores. Dollar General is among the largest retailers of top-quality products made by America's most trusted manufacturers such as Procter & Gamble, Kimberly Clark, Unilever, Kellogg's, General Mills, Nabisco, PepsiCo and Coca-Cola. Carrying primarily household trusted name brands in their stores is another strengths and cutting prices. I personally do not believe that their advertising is strong enough, as they grow they need to probably take this into consideration. They are taking advantages of all opportunities in growth as stores are popping up all over the place. As the economy continues to struggle this could be a weakness.
Sunday, September 26, 2010
Slogan & Mission Statement
Dollar General SloganA slogan is a short, memorable catch phrase, tagline or motto used to to identify a product or company in advertisements. The advertising slogan, or business slogan most associated with Dollar General, is:
"Save Time, Save Money, Everyday."
Dollar General Mission Statement and/or Vision Statement
Mission Statements and Vision Statements are written for customers and employees of corporations. A Mission Statement can be defined as a sentence or short paragraph written by a company or business which reflects its core purpose, identity, values and principle business aims. The definition for a Vision Statement is a sentence or short paragraph providing a broad, aspirational image of the future.
Dollar General Mission Statement:
Mission Statements and Vision Statements are written for customers and employees of corporations. A Mission Statement can be defined as a sentence or short paragraph written by a company or business which reflects its core purpose, identity, values and principle business aims. The definition for a Vision Statement is a sentence or short paragraph providing a broad, aspirational image of the future.
Dollar General Mission Statement:
Serving Others
For Customers…A Better Life
For Investors…A Superior Return
For Employees…Respect and Opportunity
For Customers…A Better Life
For Investors…A Superior Return
For Employees…Respect and Opportunity
Thursday, September 16, 2010
Dollar General store gets approval to sell beer, wine
Abilene consumers now can buy beer and wine in a store not generally associated with liquor sales.
Dollar General, 1290 Butternut St., began selling beer and wine in August after receiving a retail liquor license.
Dollar General public relations representatives declined to comment on which stores sell liquor and were applying for liquor licenses. However, according to the Texas Alcoholic Beverage Commission, the store on Butternut received its retail liquor license July 30.
TABC records also show four other Abilene Dollar General stores that have applications for liquor licenses pending. Those stores are at 3726 Catclaw Drive, 2926 S. 27th St., 630 S. Leggett Drive and 6617 Buffalo Gap Road.
“We believe we are offering our customers a more convenient alternative to other retailers who sell beer, such as grocery stores,” Tawn Earnest, spokeswoman with Dollar General, told the Abilene Reporter-News in an e-mail Monday.
She explained that if any stores had applied for liquor licenses, it had nothing to do with the recent liquor law election where voters approved making the dry areas of the city limits wet, which included the Wylie area and one Dollar General store.
“We have been selling beer in a number of our stores since last year,” Earnest pointed out. The company started experimenting with liquor sales in some of its stores two years ago, according to various news reports.
Dollar General Corp. has been making beer and wine available for sale in stores throughout the southeast. Earnest told The Associated Press this week that the company expects to eventually offer beer and/or wine in about half of its stores. The company has about 9,000 stores nationwide. The corporate headquarters is located in Goodlettsville, Tenn.
According to an Associated Press article, consumables or grocery staples make up about 70 percent of Dollar General’s total revenue, which is different for similar retailers like Family Dollar and Dollar Tree, where food and drink purchases make up about half the sales.
Earnest declined to comment on how liquor sells were going for the retail chain.
Saturday, September 11, 2010
News Release
Dollar General on the Horizon
Dollar General, which is majority owned by private equity firm Kohlberg Kravis Roberts & Co.(NYSE:KKR), has plans to continue its aggressive expansion plans. It will open 600 new stores and remodel another 500 in 2010. Not only has its business not yet proved to be vulnerable during the recession, but it has steadily grown. Also, the concern of declining comparable sales may be offset by the rising trend in July sales mentioned by the company. The critics ignore as a potential lasting shift the achievement of greater customer traffic by Dollar General and the other dollar stores. Our thesis has been that these additional customers may prove to be more permanent.
Dollar Days Not Over
Dollar General should continue to do well as the economy limps along. We expect it to do well also when the economy strengthens. The stock is trading near its 52-week high right now, but this is a stock to monitor and consider for purchase on a share price drop. (For more stock analysis, check out Family Dollar Stores Still Thriving.)
http://stocks.investopedia.com/stock-analysis/2010/Dollar-Generals-Strong-Growth-Continues-DG-FDO-NDN-DLTR-SHLD-0903.aspx?partner=YahooSA
Dollar General, which is majority owned by private equity firm Kohlberg Kravis Roberts & Co.(NYSE:KKR), has plans to continue its aggressive expansion plans. It will open 600 new stores and remodel another 500 in 2010. Not only has its business not yet proved to be vulnerable during the recession, but it has steadily grown. Also, the concern of declining comparable sales may be offset by the rising trend in July sales mentioned by the company. The critics ignore as a potential lasting shift the achievement of greater customer traffic by Dollar General and the other dollar stores. Our thesis has been that these additional customers may prove to be more permanent.
Dollar Days Not Over
Dollar General should continue to do well as the economy limps along. We expect it to do well also when the economy strengthens. The stock is trading near its 52-week high right now, but this is a stock to monitor and consider for purchase on a share price drop. (For more stock analysis, check out Family Dollar Stores Still Thriving.)
http://stocks.investopedia.com/stock-analysis/2010/Dollar-Generals-Strong-Growth-Continues-DG-FDO-NDN-DLTR-SHLD-0903.aspx?partner=YahooSA
Friday, September 10, 2010
Dollar General History
When the first Dollar General store opened in Springfield, Ky., on June 1, 1955, the concept was simple – no item in the store would cost more than one dollar. The idea became a huge success and other stores owned by J.L. Turner and his son Cal Turner Sr. were quickly converted. By 1957, annual sales of Dollar General’s 29 stores were $5 million. The Turners did not reach this level of success without obstacles. James Luther (J.L.) Turner’s father died in an accident in 1902 when J.L. was only 11. J.L. quit school so he could work on the family farm and help provide for his mother and siblings. He never completed his education. J.L. knew his limited education demanded that he become a quick study of the world around him. After two unsuccessful attempts at retailing, J.L. became a traveling dry goods salesman for a Nashville wholesale grocer.
We have all been wondering about all these samll rural KY communities seeing all these new builds. Maybe the family has a fondness for our fine state. J.L. left the sales job after 10 years and settled his family in Scottsville, Ky. During the Depression, he began buying and liquidating bankrupt general stores. J.L.’s only child, Cal Turner Sr., accompanied his father to these closeouts at a young age, gaining valuable business knowledge and skills. In October 1939, J.L. and Cal opened J.L. Turner and Son Wholesale with an initial investment of $5,000 each. Wholesaling quickly gave way to retailing – J.L.’s third and final attempt at retailing. The switch to retailing resulted in annual sales above $2 million by the early 1950s, and the rest is history.
J.L. passed away in 1964. Four years later, the company he co-founded went public as Dollar General Corporation, posting annual sales of more than $40 million and net income in excess of $1.5 million. In 1977, Cal Turner Jr., who joined the company in 1965 as the third generation Turner, succeeded his father as president of Dollar General. Cal Turner Jr. led the company until his retirement in 2002. Under his leadership, the company grew to more than 6,000 stores and $6 billion in sales.
Today, the company is a leading discount retailer with more than 8,000 stores in 35 states. The company remains true to the humble ethic of hard work and friendly customer service embodied by the founding family.
We have all been wondering about all these samll rural KY communities seeing all these new builds. Maybe the family has a fondness for our fine state. J.L. left the sales job after 10 years and settled his family in Scottsville, Ky. During the Depression, he began buying and liquidating bankrupt general stores. J.L.’s only child, Cal Turner Sr., accompanied his father to these closeouts at a young age, gaining valuable business knowledge and skills. In October 1939, J.L. and Cal opened J.L. Turner and Son Wholesale with an initial investment of $5,000 each. Wholesaling quickly gave way to retailing – J.L.’s third and final attempt at retailing. The switch to retailing resulted in annual sales above $2 million by the early 1950s, and the rest is history.
J.L. passed away in 1964. Four years later, the company he co-founded went public as Dollar General Corporation, posting annual sales of more than $40 million and net income in excess of $1.5 million. In 1977, Cal Turner Jr., who joined the company in 1965 as the third generation Turner, succeeded his father as president of Dollar General. Cal Turner Jr. led the company until his retirement in 2002. Under his leadership, the company grew to more than 6,000 stores and $6 billion in sales.
Today, the company is a leading discount retailer with more than 8,000 stores in 35 states. The company remains true to the humble ethic of hard work and friendly customer service embodied by the founding family.
Sunday, September 5, 2010
Quartely Report
On August 31, 2010 Dollar General reported record 2nd quarter sales and earnings. It appears that the strategic plan they have set in place is definitely working. They have measured their improvements by gauging the growth of sales increases and operating profit. Their adjusted net income increased by 55% TO $145 million. Please visit their newsroom for more... http://newscenter.dollargeneral.com/ I had a comment earlier about why I thought they were right on track with their strategic plan. The opening of many stores alone is not really an indicator that their strategic plan is working. We watched this plan from Starbucks backfire as they had to close the many new stores they had opened. Compared to Starbucks heavily saturation in large business areas the target market was definitely off. They were stealing their own customers from another store. Dollar General is choosing to open these new stores in heavily populated rural areas and it is working in my opinion to keep those customers from having to drive the extra 15 miles to the closest Walmart.
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