Dollar General Opens 10,000th Store

Published in CSP Daily News

Merced, Calif., location secures "coast-to-coast" presence in 39 states

GOODLETTSVILLE, Tenn. -- Dollar General Corp. announces the opening of its 10,000th store, giving the retailer a coast-to-coast presence for the first time in the company's history. The store is in Merced, Calif., which is one of the company's first in the state.

The discount retailer claims to have more retail locations than any retailer in America.

The first Dollar General store opened in Springfield, Ky., more than 70 years ago.

"Opening the doors of our 10,000th store is a meaningful day for all of us at Dollar General, and we are excited to celebrate the occasion in California," said Rick Dreiling, Dollar General's chairman and CEO. "This milestone reiterates our commitment to bringing unmatched convenience and value to customers across the nation."

Operating in 39 states, the chain serves customers with stores in suburban, rural and metropolitan communities. It sells everyday household needs, food and basic apparel in convenient, small stores. The stores offer products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, house wares and seasonal items at low everyday prices in convenient neighborhood locations. Dollar General sells products from leading manufacturers such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg's, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola.

The company also sells its merchandise online. Its website features a banner that says "We welcome our 10,000th store." To celebrate, it offered 10% off and free shipping from its online store on March 30 and 31.

In other company news, Dollar General has announced the pricing of an underwritten secondary public offering of 25 million common shares at a price to the public of $45.25 per share. The shares are being sold by certain existing shareholders. No shares are being sold by the company in this offering, and it will not receive any proceeds from the offering. In connection with the offering, certain of the selling shareholders have granted to the underwriters an option to purchase up to 3.75 million additional shares.

The company said that it expects the offering to close April 2, 2012.