Dollar General: New President, Strategic Changes
December 4, 2006,
Dollar General has named David Bere president and coo, and the retailer also said it will close about 400 stores during 2007.
In addition to the store closings, the new-store opening schedule will be trimmed back from 600 this year to 300 to 400 in each of the next two years. The current inventory system will be scrapped in favor of a program to keep "fresher" goods in stock. The company also said it will authorize a share repurchase of up to $500 million.
The $8.6 billion deep-discounter currently operates 8,276 stores. HTT research showed the company had home textiles sales of $126 million in 2005.