Dollar General to undertake chainwide renovations
Goodlettsville, Tenn. During Dollar General’s first-quarter conference call on Tuesday, the chain’s executives announced a new remodeling plan.
The decision follows the completion of five store remodels, which are already contributing to “a significant sales increase,” chairman and CEO Rick Dreiling said during the meeting.
The renovated stores will all be designed in the same vein as new stores, including new paint and wider aisles. The discount chain plans to remodel 250 to 300 stores this year, and open 450 new locations. Approximately 104 of these new stores opened their doors in the first quarter.
Remodels and new locations alike are expected to contribute to even more favorable earnings moving forward. For the quarter ended May 1, Dollar General’s sales were $2.78 billion, almost a 16% increase from the first quarter last year. Net income rose to $83 million from a mere $5.9 million for the same period a year ago, and same-store sales increased more than 13%.
At the end of the quarter, the chain operated 8,462 stores in 35 states.
Stop & Shop SVP joins Modiv Media board
QUINCY, Mass. Modiv Media announced that Stephen Vowles, SVP for Stop & Shop/Giant Landover Supermarkets, has joined the company’s board of directors.
“The addition of Stephen Vowles to the board adds real value for Modiv Media, our partners and our customers,” said Paul Schaut, Modiv Media chairman and CEO. “His experience on both sides of the brand management equation is a great asset for the company.”
Vowles led the successful re-branding of Stop & Shop/Giant Landover in 2008. Prior to joining Stop & Shop, he was customer marketing director at Sainsbury’s, the United Kingdom’s second largest grocer, and previously worked for eight years in brand management at Procter & Gamble, managing a range of brands across Western Europe.
Rite Aid posts slight increase in May same-store sales
CAMP HILL, Pa. Rite Aid reported that for the five weeks ended May 30, same-store sales increased 0.6% over the prior year period. May front-end same-store sales decreased 1.5% while pharmacy same-store sales, which included an approximate 511 basis points negative impact from new generic introductions, increased 1.6%.
Total drug store sales for the five-week period decreased 1.3% to $2.507 billion compared to $2.539 billion for the same period last year. Prescription revenue accounted for 67.7% of drug store sales, and third party prescription revenue represented 96.2% of pharmacy sales.
Same-store sales for the 13-week quarter ended May 30 increased 0.6% over the prior-year period. Front-end same-store sales were down 1.6%. Pharmacy same-store sales increased 1.6%.
Total drug store sales for this 13-week first quarter decreased 1.2% to $6.506 billion compared to $6.586 billion in last year’s like period. Prescription revenue represented 68.2% of total drug store sales, and third party prescription revenue was 96.3%of pharmacy sales.