Dollar General Corp. reports second-quarter 2020 net sales increased 24 percent to $8.7 billion, up from $7 billion in the first quarter.
In addition, the company’s operating profit increased 80.5 percent to reach $1 billion.
“As a result of the team’s strong execution and tireless commitment to serving our customers, we are pleased to report strong second-quarter financial results,” says Todd Vasos, Dollar General’s CEO.
Same-store sales increased in several categories, including consumables, seasonal products, home products and apparel.
Recently, Hardware Retailing explored the growth of dollar stores with Neil Saunders of data analytics company GlobalData.
“For a lot of consumers of all income groups, dollar stores have become a convenient go-to choice for picking up everyday products. A lot of dollar stores are located in rural areas where there isn’t a lot of choice and people would have to drive a fair distance to get to a larger store. Another reason is that consumers, ever since the economic downturn in 2008, are value sensitive. They’re careful about how they spend their money. Dollar stores are very good options for them to get really good value for the money on consumables, household goods and food, as well as some hardware and home improvement products,” Saunders says.
Dollar General operates nearly 17,000 stores in 46 states.