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Dollar General. Wynne Barton jwbartoniv@gmail.com. Why Dollar General?. DG Timeline. 1939- J.L. Turner and Cal Turner Sr. opened J.L. Turner and Son Wholesale in Scottsville, KY 1955- Springfield, KY Turner’s Department Store was converted into the first Dollar General Store

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dollar general

Dollar General

Wynne Barton

jwbartoniv@gmail.com

dg timeline
DG Timeline
  • 1939- J.L. Turner and Cal Turner Sr. opened J.L. Turner and Son Wholesale in Scottsville, KY
  • 1955- Springfield, KY Turner’s Department Store was converted into the first Dollar General Store
  • 1967- Exceeded the $1 million net income mark
  • 1968- DG goes public
  • 1973- New warehouse and office built in Scottsville, KY
  • 1976- $100 million sales mark
  • 1983- Acquires 280 stores from P.N. Hirsh Division of Interco Inc.
  • 1985- Acquires 206 stores and a warehouse from Eagle Family Discount Stores
  • 1987- Launches GED/Learn to Read Program
dg timeline1
DG Timeline
  • 1988- Ronald Reagan honors DG for its literacy program
  • 1989- 50th anniversary
    • 1,300 Stores in 23 states; 7,000 employees
  • 1995- Opens new distribution center in Ardmore, OK
  • 1996- Exceeds $2 Billion sales and $100 Million net income
  • 1997- 3,000 store mark; 25,000 employees. New distribution center in South Boston, VA
  • 1998- New distribution center Indianola, MS. Sales over $3B
  • 1999- New distribution center in Fulton, MO
  • 2000- GHQ moves to Goodlettsville. New DC in Alachua, FL
  • 2001- 5,000 store mark. Exceeds $5 Billion in sales. Opened new DC in Zanesville, OH
dg timeline2
DG Timeline
  • 2002- 6,000th store and $6B in sales
  • 2003- David Perdue named chairman and CEO
  • 2005- 8th distribution center in Jonesville, SC. $8B in sales
  • 2006- 8,000 store mark. New DC in Marion, Ind. $9B sales
  • 2007- DG goes private after being acquired by PE firm
  • 2008- Rick Dreiling is named CEO
  • 2009- DG goes public
  • 2010- 9,000th store in Fountain Run, KY
  • 2011- Launches Ecommerce website
  • 2012- 10,000 store mark and 2 more distribution centers
a typical dollar general store
A Typical Dollar General Store
  • Is roughly 7,200sf
  • Freestanding stores (63%) as well as strip mall stores (37%)
  • 10k-12k SKU per store
dollar general store key to success
Dollar General Store: Key to Success
  • “Convenience, quality brands and low prices…”

-Dollar General 10-K 2012

  • Only the most popular brands and sizes
    • Procter and Gambler, Kimberly Clark, Unilever, Kellogg’s, General Mills, and Nabisco
business model
Business Model
  • “Providing a broad base of customers with their basic everyday and household needs, supplemented with a variety of general merchandise items, at everyday low prices in conveniently located, small-box stores.”

- Dollar General- 10-K Report

business model1
Business Model
  • Convenient Locations-
    • 70% serving communities with populations of less than 20,000.
    • Majority of customers live within three to five miles.
  • Time-Saving Shopping Experience-
    • Product offering includes most necessities.
    • Convenient hours and broad merchandise offering allow customers to fulfill their routine shopping requirements and minimize their need to shop elsewhere.
  • Everyday Low Prices on Quality Merchandise.
    • Low prices on quality merchandise
    • Low-cost operating structure
    • Maintain a limited number of SKUs per category
    • Maintain strong purchasing power.
measuring success
Measuring Success
  • Lean expense structure is the foundation
    • YE2012 expenses as a percentage of sales were 21.66%
    • Walmart expenses as a percentage of sales YE2012: 19.21%
  • Average DG does $1.5M in annual sales: break it down…
    • 20 customers per hour for 12 hours per day spending an average of $17.12… $4,109/day… $28,846/week… $1.5M/year
  • Stock Price: up 138% today since November 2009
sources
Sources
  • www.dollargeneral.com
  • http://finance.yahoo.com/q/pr?s=DG
  • http://www.sec.gov/Archives/edgar/data/29534/000104746913003283/a2213303z10-k.htm
  • http://retailingtoday.com/sites/retailingtoday.com/files/Dollar_General_2012.pdf