Dollar General, based in Goodletsville, is celebrating record sales and profits. Its annual report calls 2010 a “great year” for the discount retailer.
Dollar General’s profits crossed the billion dollar mark, an increase of 34 percent from the previous year.
The company opened 600 stores and remodeled or relocated more than 500.
Discount retailers have benefited from more cost conscious shoppers, and Dollar General expects the upward trend to continue through 2011. It’s predicting another double-digit sales increase.
The company also plans to continue opening stores at a similar pace. And CEO Rick Dreiling tells investors the company will soon make a much-anticipated move into the west coast market.
“We are formulating our strategy for Nevada now, and we plan to use that as a launching pad into California.”
Dollar General operates more than 9,000 stores in 35 states now.
Tuesday Dollar General also announced the construction of a $90 million distribution center outside Birmingham, Alabama.