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Dollar General Stores, Inc.
Type
Founded	1939
Headquarters	Goodlettsville, Tennessee, USA
Area served	United States
Key people	David L. Beré, Interim CEO
Industry	Retail
Products	Low cost items
Revenue	▲ US$9,169,822
Operating income	▲ US$220,363
Net income	▲ US$137,943
Employees	69,500
Website	http://www.dollargeneral.com
In June of 2007, Dollar General was acquired by a group of private investors.

Dollar General is a chain of variety stores operating in 35 U.S. states. The chain operates about 8,205 stores (as of June 1, 2007), and its headquarters is located in Goodlettsville, Tennessee, a suburb of Nashville. As of March 12, 2007, the company is in the process of being acquired by William Kravis Watson, a private equity firm, who intends to take the company back to privately-owned status.^[1] Store/Company website Goodlettsville is a city located in Tennessee. ... For the tax agency in Ireland of the same name, see Revenue Commissioners. ... The United States dollar is the official currency of the United States. ... Earnings before interest and taxes (EBIT), also known as operating income and operating profit, is a term used to describe a companys earnings. ... The United States dollar is the official currency of the United States. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... The United States dollar is the official currency of the United States. ... This article is about work. ... A website (alternatively, web site or Web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or more web servers, usually accessible via the Internet. ... A 99 cent store A variety store or price-point retailer is a retail store that sells inexpensive items, usually with a single price point for all items in the store. ... A U.S. state is any one of the 50 states which have membership of the federation known as the United States of America (USA or U.S.). The separate state governments and the U.S. federal government share sovereignty. ... Goodlettsville is a city located in Tennessee. ... Nashville redirects here. ... Private equity is a broad term that refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. ...

The stores were founded in 1939 by Cal Turner in Scottsville, Kentucky. Turner was illiterate and later created a Literacy Fund which helps people learn to read; the fund donates computers and books to local schools and libraries. Sign welcoming visitors to Scottsville Scottsville is a city in Allen County, Kentucky, United States. ... Literacy is the ability to use text to communicate across space and time. ...

Dollar General stores are typically in small shopping plazas or strip malls in local neighborhoods. The company acquired the 280 stores of the P.N. Hirsh Division of Interco, Inc. (now Furniture Brands International, Inc.) in 1983 and in 1985 added 206 stores and a warehouse from Eagle Family Discount Stores, also from Interco, Inc. In recent years, the chain has started constructing more stand-alone stores, typically in areas not served by another general-merchandise retailer. In some cases, stores are within a few city blocks of each other. Shopping is the examining of goods or services from retailers with intent to purchase. ... Plaza is a Spanish word related to field which describes an open urban public space, such as a city square. ... For the traditional meaning of the word mall, see pedestrian street or promenade. ... A neighbourhood or neighborhood (see spelling differences) is a geographically localised community located within a larger city or suburb. ...

Dollar General offers both name brand and generic merchandise — including off-brand goods and closeouts of name-brand items — in the same store, often on the same shelf.

Although it has the word "dollar" in the name, Dollar General is not a dollar store in the strict sense of the phrase, because it has goods that are priced at more (or less) than a dollar. However, goods are usually sold at set price points of penny items and up to the range of 50 to 60 dollars, not counting phone cards, trac fone minutes, and loadable store gift cards. A 99 cent store A dollar store is a store that sells inexpensive items for one dollar or less each. ... Price Points along a Demand curve Price points are prices for which demand is relatively high. ...

Dollar General typically serves communities that near Wal-Marts. It competes in the dollar store format with national chains Family Dollar and Dollar Tree, regional chains such as Fred's in the southeast, and numerous independently owned stores. Community is a set of people (or agents in a more abstract sense) with some shared element. ... A typical Family Dollar store. ... Dollar Tree Stores, Inc. ... Freds (NASDAQ: FRED) is a regional chain of dollar stores based in the southeastern United States. ...

Concepts

This article has been nominated to be checked for its neutrality. Discussion of this nomination can be found on the talk page. (December 2007)

Since the turn of the century, Dollar General has experimented with stores that carry a greater selection of grocery items. These stores (similar to the Wal-Mart Supercenter, but much smaller) operate under the name "Dollar General Market". Wal-Mart Stores, Inc. ...

When the first Dollar General store opened in Scottsville, Kentucky, on June 1, 1955, the concept was that no item in the store would cost more than one dollar. The idea became a success, and other stores owned by J.L. Turner and his son Cal Turner were quickly converted. By 1957, annual sales of Dollar General’s 29 stores were $5 million. Sign welcoming visitors to Scottsville Scottsville is a city in Allen County, Kentucky, United States. ...

The Turners did not reach this level of success without obstacles. James Luther (J.L.) Turner’s father died in an accident in 1902 when J.L. was only 11. J.L. had to quit school so he could work the family farm and help provide for his mother and siblings. He never completed his education. J.L. knew his limited education demanded that he become a quick study of the world around him.

After two unsuccessful attempts at retailing, J.L. became a traveling dry goods salesman for a Nashville wholesale grocer. J.L. left the sales job after 10 years and settled his family in Scottsville, Kentucky. During the Depression, he began buying and liquidating bankrupt general stores. J.L.’s only child, Cal Turner, Sr., accompanied his father to these closeouts at a young age, gaining valuable business knowledge and skills. Sign welcoming visitors to Scottsville Scottsville is a city in Allen County, Kentucky, United States. ...

In October 1939, J.L. and Cal opened J.L. Turner and Son Wholesale with an initial investment of $5,000 each. Wholesaling quickly gave way to retailing – J.L.’s third and final attempt at retailing. The switch to retailing resulted in annual sales above $2 million by the early 1950s and the rest is history.

J.L. died in 1964. Four years later, the company he co-founded went public as Dollar General Corporation, posting annual sales of more than $40 million and net income in excess of $1.5 million. In 1977, Cal Turner, Jr., who joined the company in 1965 as the third generation Turner, succeeded his father as president of Dollar General. Cal Jr. led the company until his retirement in 2002. Under his leadership, the company grew to more than 6,000 stores and $6 billion in sales.

Acquisition

Dollar General is no longer a publicly traded company. On July 6, 2007, all shares of Dollar General stock were acquired by private equity investors for $22.00 per share. An investment group consisting of affiliates of Kohlberg Kravis Roberts & Co. L.P. (KKR), GS Capital Partners (an affiliate of Goldman Sachs), Citi Private Equity and other co-investors completed an acquisition of Dollar General Corporation for a total enterprise value of $7.3 billion. ^[2] A publicly traded corporation often refers to a company whose shares are traded on the open market, such as a stock market. ... For other uses, see Stock (disambiguation). ... Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late-stage leveraged buyouts. ... The Goldman Sachs Group, Inc. ... Citibank was founded in 1812 as City Bank of New York. ...

As a part of the transition to a privately held company, Dollar General is assessing each location as leases run out against a model known as "EZ Stores". This assessment includes evaluating whether the location has a loading dock, garbage dumpsters, adequate parking, and acceptable profitability. Stores that do not pass this evaluation are closed. Over 400 stores have been closed already as part of this initiative.^[3]

Other facts

• Dollar General accepts EBT food cards, personal checks, Visa, and Discover, as both credit and debit. Dollar General only accepts Master Card as a debit, and they currently do not accept American Express. Cash back is unfortunately not an option with Dollar General either.
• Dollar General's return policy requires a receipt that is completely intact and legible.
• Dollar General policy requires employees to greet guests upon store entry and departure.
• Dollar General is home of the 50 percent off Red Cart, and some stores honor outside 25 to 95 percent off sales for your convenience.

References

Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 71st day of the year (72nd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 71st day of the year (72nd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...

External links

• Dollar General Website