Dollar General to Close 400 Stores, Open 300 New Ones - KAIT Jonesboro, AR - Region 8 News, weather, sports

Nashville, TN

Dollar General to Close 400 Stores, Open 300 New Ones

NOVEMBER 29, 2006 - Posted at 4:01 p.m. CST

 

NASHVILLE, TN - Discount retailer Dollar General said today it plans to close 400 stores next year and open about 300 new locations to improve profitability.

The plan will cost about $138 million.  Half of that is related to store closings and the other half to move away from Dollar General's "packaway" inventory management model.  Under its new inventory strategy, Dollar General plans to sell off some $300 million in older merchandise to make way for newer products that are in season.

In the most recent quarter, Dollar General reported a 40 percent decline in profit on increased costs, despite slightly higher sales.

Dollar General, based in Goodlettsville, Tennessee, had 8,276 neighborhood stores in 34 states as of November 24.  Arkansas has 222 of those stores, while 306 are located in Missouri. 

The company did not disclose how many workers will be affected.

(The Associated Press contributed to this report.)

 

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • Crews work to fix water main break in Hoxie

    Crews work to fix water main break in Hoxie

    Sunday, July 15 2018 9:17 PM EDT2018-07-16 01:17:13 GMT
    Monday, July 16 2018 1:56 AM EDT2018-07-16 05:56:08 GMT
    Crews work to fix water main break in Hoxie (Source: AP Graphics Bank)Crews work to fix water main break in Hoxie (Source: AP Graphics Bank)

    Moments ago, Hoxie emergency crews spotted a water main break on the southwest side of town. 

    Moments ago, Hoxie emergency crews spotted a water main break on the southwest side of town. 

  • Neighbors respond to double homicide

    Neighbors respond to double homicide

    Sunday, July 15 2018 10:06 PM EDT2018-07-16 02:06:00 GMT
    Sunday, July 15 2018 10:27 PM EDT2018-07-16 02:27:46 GMT
    (Source: Region 8 News)(Source: Region 8 News)
    (Source: Region 8 News)(Source: Region 8 News)

    Many people were shocked to hear officials were investigating a double homicide on this quiet country road. 

    Many people were shocked to hear officials were investigating a double homicide on this quiet country road. 

  • breaking

    Power outages reported in Craighead County with storm

    Power outages reported in Craighead County with storm

    Sunday, July 15 2018 6:27 PM EDT2018-07-15 22:27:46 GMT
    Sunday, July 15 2018 10:27 PM EDT2018-07-16 02:27:01 GMT

    According to a post on the Craighead Electric outage map website, about 12 customers are left without out power following evening storms. 

    According to a post on the Craighead Electric outage map website, about 12 customers are left without out power following evening storms. 

Powered by Frankly