🠈 Dollar General 🠊
The recession has been good for discount stores.
Dollar General is a rapidly expanding retailer from Goodlettsville, Tn. The store is reported to have had over 8400 stores in 2009 and will add an additional 600 in 2010.
According to CoStar, Dollar General had a 296% increas in 2009 (when most other stores were shrinking).
The stores were founded in Scottsville, Ky by Cal Turner in 1939 as J.L. Turner and Sons. The stores expanded during the Great Depression by buying and liquidating the inventory of failed general stores. The store changed its name to Dollar General in 1955 with the concept that no product would cost more than a dollar. This concept was pushed aside by inflation.
Dollar General initially went public in 1964. They were acquired by the private equity firm Kohlberg Kravis Roberts & CO (KKR) in 2007. KKR had an IPO for the stores in 2009. They trade on the NYSE with the symbol DG.
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