Dollar General looks beyond its backyard
June 16, 2004-- Home Textiles Today,
GOODLETTSVILLE, Tenn. — Dollar General is currently testing "new ideas and new models" as it looks to build its business, according to David Perdue, chairman and CEO.
Addressing investors during a Credit Suisse First Boston retail conference yesterday, the company said it is experimenting with new locations and segmentation strategies outside of its traditional inner city and rural bases. The new locations serve regional needs and new demographics — such as the store's fastest growing group, families with annual incomes of greater than $50,000.
"We're trying to segment some stores right now," Perdue said. "We have beach stores, for example, and we're looking at other segmentation strategies, in terms of how to merchandise those stores as well as how to locate those stores."
The main priority this year is to address store operations across the company's entire network, research the flow of merchandise in the stores and expand international sourcing efforts. Dollar General already owns an office in Hong Kong, "and we plan to increase our levels of penetration in this effort," Perdue said.