Dollar General is profiting from Walmart's failure
Thomson Reuters
CNBC reports that Dollar General will upgrade 40 of its existing stores into the new locations. It will also open in one new market.
"Dollar General is excited to add these locations to our existing store base. We look forward to the opportunity to better serve our customers in these communities by continuing to provide the convenience and value," Dollar General CEO Todd Vasos said in a release.
Walmart's Express stores are about 15,000 square feet - about 10% the size of the average Supercenter. They first opened in 2011 and were pitched as an easier way to shop for essentials.
But Walmart announced in January that it would close 102 of the Express stores.
Dollar stores have seen business steadily rise since the Recession. Many of these stores have made changes to compete, including offering higher-quality cosmetics and simple groceries like bread and milk.
Dollar General has started selling meat and poultry. It's also testing sales of fresh produce.
Walmart also made changes to compete with dollar stores in the post-Recession economy.
For instance, the retailer began selling single rolls of toilet paper for cash-strapped shoppers waiting on their next paycheck.
- 10 Ultimate road trip routes in India for 2024
- Global stocks rally even as Sensex, Nifty fall sharply on Friday
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market