Dollar General and Dollar Tree last week reported first-quarter results that topped expectations and confirmed previously announced store expansion plans for 2021.
Dollar General said that it remains on track to open 1,050 new stores, remodel 1,750 locations and relocate 100 stores in 2021. It continues to expect capital expenditures in the range of $1.05 billion to $1.15 billion.
The discounter, whose net income totaled $677.7 million, or $2.82 per share, in the quarter ended April 30, up from $650.4 million, or $2.56 per share, in the year-ago period, said that it executed more than 800 real estate projects (260 new stores, 543 remodels and 33 relocations) during the quarter, including store openings in its new PopShelf and larger-footprint Dollar General formats
Dollar Tree said it plans to open 600 new stores and to renovate 1,250 Family Dollar stores in fiscal 2021. The new stores are expected to consist of 400 Dollar Tree stores and 200 Family Dollar stores. The Family Dollar stores will be comprised of H2 and combo Store formats, based upon market locations.
The chain’s net income totaled $374.5 million, or $1.60 per share, up from $247.6 million, or $1.04 per share in the year-ago period.