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Dollar General To Open 1000 New Stores In 2020

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Retailer Dollar General announced its plans to open 1,000 new stores in fiscal 2020 showing its confidence in the company's future. The decision comes at a time when many brick-and-mortar stores are being closed amid intensifying competition.

For the 52-week year 2020, the company plans to execute nearly 2,600 real estate projects, including 1,000 new store openings, 1,500 mature store remodels, and 80 store relocations.

The company, while reporting strong earnings and sales in its third quarter, had also reiterated its plans to execute approximately 2,075 real estate projects in 2019, including 975 new store openings.

Dollar General, which was founded 80 years ago, operated 16,094 stores in 44 states as of November 1, 2019.

Despite the evolution in consumer shopping habits, physical stores recorded a 4.2 percent year-over-year increase on Black Friday sales in 2019, according to SpendTrend data by First Data Insights, now Fiserv, Inc.

Meanwhile, the ever-increasing online competition from industry majors such as Amazon and Walmart, and the changing consumer habits have caused more and more retail stores to shut their doors in recent times.

In late November, arts and crafts retailer A.C. Moore stores decided to close all of its more than 145 stores. In 2019, more than 9,300 stores were closed or in the process of closing by retailers including Payless Shoes, Dress Barn, Gymboree, Charlotte Russe, Charming Charlie and Destination Maternity.

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