Boston, MA 06/10/2014 (wallstreetpr) – Dollar General Corp. (NYSE:DG) officially announced on Monday, June 09, about its prudent expansion plans across three new states in the US – Rhode Island, Oregon and Maine, by the next fiscal year.
DG Plans To Expand Across Three States
The Dollar General Corp. (NYSE:DG) chain possesses a strong portfolio; it spans across 40 states and have 11.3K stores. The company expects to get the stores built in Rhode Island and Maine during the fall, whereas the constructions are deemed to start off in Oregon in the early months of 2015. The company sees a plenitude of expansion opportunities across the US, into the future!
The Company’s Perspective
The CEO and Chairman of Dollar General Corp. (NYSE:DG), Richard W Dreiling commented during a conference meet last week that the company had upgraded its site selection technology so as to duly fine-tune the prospects of growth and ameliorating opportunities to garner greater revenues. He further pointed out that DG hopes to add 14K opportunities for this industry in the near future, higher than its previous estimates of 10K.
Todd Vasos, the COO of Dollar General Corp. (NYSE:DG) categorically pointed out that when the stores across the three states start their operations, the new customers shall enjoy the easy-to-shop stores that sell a wide gamut of merchandise at affordable and competitive prices. He also claimed that DG has and shall always remain the retail store that people trust for saving money and time, on an everyday basis.
The stores in Rhode Island and Maine shall be served by Bethel, Pennsylvania-Distribution-Center, whereas the Oregon store shall be served by the Lebec, California-Distribution-Center.
Rumors Mill Around A FDO-DG Deal
On June 9, Carl Icahn became a possessor of 9.39% stake in Family Dollar Stores, Inc. (NYSE:FDO), turning into the largest stakeholder in the company. Soon afterward, the activist investor made a statement about FDO’s friendly dialogue with Dollar General Corp. (NYSE:DG). Icahn was pushing for a purported $6.89 deal to merge with DG.
As the merger rumor mill around, investors have begun to eye both the companies deemed for a prospective future. Consequently, stocks soared on Monday – FDO surged 16%, and DG witnessed a 14% hike!
