Dollar General Corporation is a United States chain of discount variety retail stores spread throughout the country. Headquartered in Goodlettsville, Tennessee, Dollar General operates over 11,000 stores in 40 U.S. states, has a market cap of $19.41 billion, and employs over 100,000 people. Founded in 1939 by Cal Turner Sr. and his father J.L. Turner in Scottsville, Kentucky, Dollar General has since been acquired by private equity firm Kohlberg Kravis Roberts, which took the company public in 2009. Dollar General continues expanding throughout the United States and even has a popular connection with motorsports, particularly NASCAR. Earlier this month, the company entered the bidding for Family Dollar, making an offer of $9.7 billion, but the bid was turned down. Read on to find out five things you might not know about Dollar General.
5. Dollar General Market and the DG Brand
Dollar General Market is a chain of hypermarkets that sells everything standard Dollar General stores sell with an expanded selection of groceries and fresh produce. The company also has its own brand, DG, that includes a number of inexpensive health and home products sold in all of the chain’s stores under the names DG Home, DG Baby, DG Health, and DH Body.
4. How Dollar General Got its Start
The first Dollar General retail store was opened in Scottsville, Kentucky under the name J.L. Turner & Son, Inc. in 1955. The concept was a simple one–no item in the store would cost more than one dollar. The company’s wholesale stores eventually converted to retail under the same concept and in 1968, the company changed its name to the Dollar General Corporation.
3. The Company’s Mission Statement
Dollar General’s simple two word mission statement–“Serving Others”–focuses on more than just money and savings. The company defines its mission statement by stating, “we think our customers are best served when we keep it real and keep it simple… Our goal is to provide our customers a better life and our employees opportunity and a great working environment.”
2. The Store’s Locations
Dollar General stores tend to locate in smaller communities, often serving those communities that are too small for major retail store chains such as Walmart and Target. It’s a trend that has lead to high success rates in small and rural communities throughout the country. The company also competes with national retail chains like Family Dollar, Dollar Tree, and Fred’s.
1. Dollar General is Not a “Dollar” Store
Even though Dollar General has the word “dollar” in its name, the retail chain is actually not a dollar store. Most of the products sold in its stores are priced at more than $1.00. However, products are usually sold at set price points in the range of $50 to $60 and the company strives to continue providing name-brand products–and its own DG brands–at the lowest possible prices.
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