7/7/2023 0 Comments Pop shelf store website![]() ![]() ![]() Operating profit for fiscal year 2021 decreased 9.4% to $3.22 billion from the year earlier.Īmong the points, Todd Vasos, Dollar General CEO, made during a company conference call was that COVID-19, inflation and supply chain issues affected fourth-quarter results, but that a number of positives came out of the period including comp gains from 2019. Positive sales contributions from new stores, partially offset by a decline in comps, and the impact of store closures drove the net sales increase. Net sales increased 1.4% to $34.22 billion versus the year previous. Operating profit for the fourth quarter decreased 8.7% to $796.7 million from the year-earlier period.ĭollar General reported net income of $2.4 billion, or $10.17 per diluted share, for the full fiscal year, versus $2.66 billion, $10.62 per diluted share, in the annum before. Positive sales contributions from new stores drove the net sales gain, partially offset by the decline in comp sales and the impact of store closures. Net sales increased 2.8% to $8.65 billion versus the year-previous quarter. Comps declined across the board in the apparel, consumables, seasonal and home products categories.Ĭomps increased 11.3% on a two-year stack basis, however, the company pointed out. There are currently 36 Popshelf stores open, according to the Popshelf website.The company posted a net income of $597.4 million, or $2.57 per diluted share, for the quarter versus $642.7 million, or $2.62 per diluted share, in the year-before period.ĭollar General matched a MarketBeat-published analyst consensus earnings per share estimate of $2.57 but fell a bit short of an $8.71 revenue target.Ĭomparable sales decreased 1.4% in the quarter year over year, driven by a decline in customer traffic partially offset by an increase in average transaction amount, Dollar General reported. By May, the Goodlettsville, Tennessee-based company had plans to open approximately 25 Dollar General and Popshelf combination stores, and up to an additional 50 Popshelf locations in various markets by the end of fiscal 2021. Dollar General initially unveiled the Popshelf concept in October 2020. Popshelf stores offer items such as beauty and seasonal products, toys, home décor and arts and crafts. And now Dollar General is looking to roll out more of its Popshelf stores, where most items cost $5 or less.ĭollar General said Thursday that it anticipates nearly tripling the number of Popshelf stores it has by next year and plans to have about 1,000 Popshelf locations by the end of fiscal 2025. Dollar Tree announced last month that it will be boostingprices to $1.25 for most of its products. Getting more bang for your buck used to be the mantra of dollar store shoppers everywhere, but times are changing – and prices are rising.Īs consumers continue to contend with escalating prices for food, clothing and other items thanks to inflation, discount retail chains like dollar stores are rethinking their pricing strategies. Please look at the time stamp on the story to see when it was last updated. This is an archived article and the information in the article may be outdated. ![]()
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