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The wooing of more affluent customers is an acknowledgement that Dollar General’s core, lower-income customers have been stretched to their limit as inflation hits their wallets hard, particularly rising fuel prices. The announcement of the new concept came as Tennessee-based Dollar General said its annual profit would likely fall below expectations, sending its stock tumbling by nearly 4 percent in early trading to $214.29 a share. The typical Dollar General customer at one of its traditional dollar stores lives in a rural area and has an average income of about $40,000, the company said. They’ll now be rolled out across the country with 1,000 stores in prosperous areas where the annual household income is as high as $125,000, the company said Thursday. You could say Dollar General is going after wealthy suburban moms: Its new outlets, called Popshelf, debuted in test markets last year. Now, Dollar General says it will open a new retail concept targeting wealthier communities where most items will sell for around $5 or less - giving the chain more room for profit as inflation stays stubbornly stuck at 30-year highs. Grocers tweak hours to protect older shoppers from coronavirusĬarl Icahn has taken a stake in Dollar Treeĭollar General is looking beyond the buck, the discount chain said Thursday, as s oaring shipping and labor costs make it harder to wring profit out of one greenback.
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Dollar General to pay workers to get COVID-19 vaccineĭollar chains thrive as COVID-19 downturn makes shoppers thrifty