Dollar General plans to grow its brick and mortar presence with the opening of 1,100 stores in the U.S. market, as well as the opening of its first location outside the U.S. market.
As part of its strategy, the company plans to open its first store in Idaho, which will expand its presence to 47 states and remodel 1,750 locations. Dollar General also plans to open up to 10 stores in Mexico.
“The opportunity to expand our footprint to serve communities in Mexico marks an exciting new era for our organization and is a reflection of our continued innovative spirit and dedication to serving others,” said Dollar General CEO Todd Vasos.
Much like Dollar General’s U.S. stores, the new stores in Mexico will offer a curated assortment of products, including food, pet, cleaning and paper products, fresh goods, in addition to discretionary non-consumable items.
“We are taking what makes DG great in the U.S. and adapting it to the Mexican retail landscape and feel strongly that our unique proposition will resonate with the Mexican consumer,” said Dollar General COO Jeff Owen.
The company also announced plans to accelerate the opening of its upscale Popshelf stores. These concept stores will target affluent consumers who like shopping for good deals. The majority of items in these stores will be priced at $5 or less. The company has set a target of tripling the count of these locations by next year and will have 1,000 Popshelf locations by the end of 2025.
Dollar General revealed these plans as part of its Q3 earnings release. The company reported a net income of $487 million, or $2.08 per share, down from $574.3 million, or $2.31 per share, a year ago.