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The statistic highlights Dollar General’s Sales Square Feet from Q1 FY 2016.
Dollar General Corporation, headquartered in Tennessee, is an American chain of variety stores, currently operates 15,000 stores in the United States as of July 2018. The company has been delivering value to shoppers for over 75 years. The company is owned by James Luther Turner and Cal Turner as a family-owned business called J.L. Turner and Sons in Scottsville, Kentucky, in the year 1939. Later, in 1955, the name changed to Dollar General Corporation, while in 1968, the company went public on the NYSE. In 1999 and 2018, the company is recognized by Fortune 500.
Total square footage signifies the total area occupied by the corporation within a country. It helps the investors in getting insights on operational efficiencies in terms of diversifying the business. Total Square Footage, for companies like Dollar General, calculated by multiplying the standard area of a store with the present number of stores. The net increase can be calculated with the multiplication of new stores opening and standard store size.
In Q1, the total square footage for Dollar general stores tolled to 94.26 million with a growth of 6.2% as the number of store count increased within U.S. Results continue to improve as the second quarter witnessed a growth of 6.4% and opening of 484 new stores, leading the square footage to jump to 96.12 million. With consistent growth in net new stores opening, the square footage figure recorded an increase of 6.8% to 98.09 million till the end of Q3. The year ended with growth across all the factors of square footage, tolling to 98.94 million.
This year, the streak of growth continued in every quarter of the year. As the store is diversifying the stores across different locations in the United States, in Q1, with a total square footage tolling to 101.07 million, Dollar General reported the growth of 7.2% with 281 new stores opening. With the stable growth of 7.2% in the second quarter, the net addition in square footage accounted for 1.96 million. Q3 witnessed a significant increase in the square footage growth, as the total square footage increased to 106.35 million. With a yearly growth of 9%, the company did exceptionally well in terms of expanding its stores and deliberate service across new locations.
Though the growth was consistent in the year, the growth rate in each quarter decreased. In Q1, with a growth of 8.3%, the total square footage tolled to 109.42 million on 227 net new stores. Though the net store count increased to 254, the growth rate slightly decreased to 7.9%, marking the total square footage to 111.21 million. With growth at a decreasing rate in the subsequent quarters, the year ended with the total square footage of 113.75 million.
This year witnessed the stability in the growth rates in all the quarters. In Q1, total square footage tolled to 115.47 million with 227 net new store opening. With the stable growth of 5.4% in the second quarter, the net addition in square footage accounted for 1.69 million. With consistent growth in net new stores opening, the square footage figure recorded an increase of 5.6% to 119 million till the end of Q3. The year ended with a minute growth across all the factors of square footage, tolling to a total of 120.34 million.
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* Billed annually, local taxes extra.
* Local taxes extra.