DG
Updated: 24/09/2026, 18:53:35
Dollar General Corporation is a prominent discount retail chain that offers a wide array of merchandise across the southern, southwestern, Midwestern, and eastern regions of the United States. Its extensive product assortment primarily features consumable items. This includes household essentials such as paper products, cleaning supplies, and laundry detergents; a wide array of food options, ranging from shelf-stable groceries like cereals, pasta, canned goods, condiments, and baking ingredients, to fresh and refrigerated perishables such as milk, eggs, bread, and frozen foods, as well as alcoholic beverages like beer and wine. The selection further encompasses popular snacks (candies, cookies, crackers, and carbonated drinks), health and beauty aids (over-the-counter medications, personal care items, cosmetics, dental, and foot care products), pet food and supplies, and tobacco products. Beyond consumables, Dollar General offers seasonal merchandise, which includes holiday decorations, toys, electronics, greeting cards, stationery, prepaid phone services and accessories, gardening tools, hardware, automotive items, and home office supplies. Customers can also find various home goods, from kitchenware and small appliances to lighting, storage solutions, frames, candles, craft materials, and soft furnishings for the kitchen, bed, and bath. Lastly, the company stocks a selection of apparel, featuring everyday clothing for infants, children, women, and men, along with socks, underwear, disposable diapers, shoes, and accessories. As of February 25, 2022, Dollar General operated an impressive 18,190 stores spread across 47 U.S. states. Originally established in 1939 as J.L. Turner & Son, Inc., the company adopted its current name, Dollar General Corporation, in 1968. Its corporate headquarters are situated in Goodlettsville, Tennessee.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2026 filing.
Revenue
42.7B
FY 2026 · Reported
Net income
1.5B
FY 2026 · Reported
Gross margin
30.7%
FY 2026 · Calculated
Free cash flow
N/A
FY — · Reported
R&D intensity
N/A
FY — · Reported
Share repurchases
N/A
FY — · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
Map layer
Pins show disclosed operations. The heatmap colors the filing’s reported geographies; regional figures shade the region and are not estimates for each country.
Only locations and quantities explicitly supported by the filing are displayed. A country-level manufacturing percentage or product allocation is shown only when the source discloses it; materiality scores are never presented as production shares.
Largest US discount retailer by store count
20,959 stores in 48 U.S. states and Mexico as of Feb 27, 2026; everyday low prices typically $10 or less
“We are the largest discount retailer in the United States by number of stores, with 20,959 stores located in 48 U.S. states and Mexico as of February 27, 2026”
Largest US discount retailer by store count
Largest discount retailer in the U.S. by number of stores: 20,959 stores in 48 U.S. states and Mexico as of Feb 27, 2026; everyday low prices typically $10 or less from small-box locations
“We are the largest discount retailer in the United States by number of stores, with 20,959 stores located in 48 U.S. states and Mexico as of February 27, 2026”
Four merchandise categories with net sales mix
Consumables 82.0%/82.2%/81.0%; Seasonal 10.1%/10.0%/10.6%; Home 5.2%/5.1%/5.6%; Apparel 2.7%/2.7%/2.8% (2025/2024/2023)
“Consumables 82.0 % 82.2 % 81.0 %”
Core customer: low and fixed income households
Core customers are low and fixed income households often underserved by other retailers
“our core customers, the low and fixed income households often underserved by other retailers (including grocers)”
Low-income customer base
Fixed or low-income customers with limited discretionary spending; consumables-weighted sales mix
“Many of our customers have fixed or low incomes and limited discretionary spending dollars.”
Self-distribution with private fleet and temperature-controlled DCs
Merchandise flows through company DCs to stores via private fleet and third-party trucking; frozen/refrigerated self-distributed
“Most of our merchandise flows through our distribution centers and is delivered to our stores by our private fleet and by third-party trucking firms”
Merchandise mix: consumables and non-consumables
Consumables (food, paper/cleaning, health & beauty, pet) and non-consumables (seasonal, home decor/domestics, basic apparel); national and private brands
“including consumable products such as food, paper and cleaning products, health and beauty products and pet supplies, and non-consumable products such as seasonal merchandise, home decor and domestics, and basic apparel”
pOpshelf retail concept
pOpshelf: 180 standalone stores at end of 2025; seasonal/home décor, health & beauty, cleaning, party/entertainment goods; additional potential growth opportunity
“pOpshelf, our unique retail concept focused on categories such as seasonal and home décor, health and beauty, home cleaning supplies, and party and entertainment goods, represents an additional potential growth opportunity. At the end of 2025, we operated 180 standalone pOpshelf stores.”
Consumables category composition
Consumables is largest category, spanning consumable food, perishables, HBA, pet and tobacco
“Consumables is our largest merchandise category and includes paper and cleaning products”
pOpshelf non-consumable retail concept paused
pOpshelf launched 2020; new store expansion paused beginning 2025 while strategy is evaluated
“In 2020 we launched pOpshelf, our unique small-box retail concept that focuses primarily on non-consumables. Beginning in 2025, we paused new pOpshelf store expansion”
DG Media Network
DG Media Network — advertising platform for brand partners
“The success of DG Media Network, which is our platform for connecting brand partners with our customers”
Store footprint geographic profile
Stores average ~7,500 sq ft selling space; ~80% in towns of 20,000 or fewer people
“Our stores currently average approximately 7,500 square feet of selling space, and approximately 80% of our stores are located in towns of 20,000 or fewer people”
Supplier concentration
Two largest suppliers ~11% and ~8% of 2025 purchases; ~4% directly imported
“Our two largest suppliers accounted for approximately 11% and 8%, respectively, of our purchases in 2025. Our private brands come from a wide variety of suppliers. We directly imported approximately 4% of our purchases at cost in 2025.”
Property and equipment purchases by component (3-year table)
Total capex $1,241.2M (2026), $1,309.9M (2025), $1,700.2M (2024); largest component existing store improvements ($732.0M in 2026)
“Total purchases of property and equipment $ 1,241.2 $ 1,309.9 $ 1,700.2”
Core customer macroeconomic factors
Core customers are value-conscious, often low/fixed income; demand affected by unemployment, inflation, wage growth, tax/trade policy, interest rates, SNAP and government assistance programs
“The primary macroeconomic factors that affect our core customers include unemployment and underemployment rates, inflation, wage growth, changes in federal and state tax policies, interest rates, changes in U.S. and global trade policy (including price increases resulting from tariffs), and changes in U.S. government policy and assistance programs”
Government assistance programs affect demand
SNAP/food-nutrition assistance changes (2025 work requirements; Jan 2026 state product-category exclusions) could reduce customer spending
“decreases in, or elimination of, government assistance programs or subsidies such as unemployment and food/nutrition assistance programs (for example, changes to the work requirement minimum standards for qualification enacted in 2025, and beginning in January 2026, certain states' exclusion of historically covered product categories)”
Digital initiatives and delivery
Digital/delivery initiatives: Dollar General app, DG Media Network, third-party and myDG® Delivery available in majority of stores; delivery a meaningful comp-sales contributor
“Third-party delivery services and myDG® Delivery are available in the majority of our stores, providing added convenience and incremental sales.”
International expansion focused on Mexico
Mexico expansion began 2023 with Mi Súper Dollar General stores; further growth potential seen
“We opened our first Mi Súper Dollar General stores in Mexico in 2023, in which we have further expanded in each subsequent year”
Four long-term operating priorities
Long-term priorities: profitable sales growth, capturing growth opportunities, low-cost operator position, team development
“These priorities include: 1) driving profitable sales growth, 2) capturing growth opportunities, 3) enhancing our position as a low-cost operator, and 4) investing in the growth and development of our teams.”
Margin-enhancement initiatives
Margin initiatives: shrink/damage reduction, pricing/markdown optimization, DG Media Network, category management, distribution/transportation efficiencies, private brands, global sourcing
“enhancing our margins through inventory shrink and damage reduction initiatives, as well as pricing and markdown optimization, the DG Media Network (our platform that connects brand partners with our customers)”
Long-term operating priorities
Four long-term priorities: profitable sales growth, growth opportunities, low-cost operator, team development
“Our long-term operating priorities are: 1) driving profitable sales growth, 2) capturing growth opportunities, 3) enhancing our position as a low-cost operator, and 4) investing in the growth and development of our teams”
2026 store growth and remodel plan
2026 plan: ~450 new US stores, ~10 new Mexico stores, ~4,270 remodels/relocations (incl. ~2,000 Project Renovate, ~2,250 Project Elevate)
“approximately 450 new stores in the United States and approximately 10 new stores in Mexico and approximately 4,270 remodels or relocations”
Initiatives to drive sales and profitability
Broad strategy portfolio including Project Elevate remodels, pOpshelf, international expansion, DG Media Network, private brands, private fleet, supply chain
“such as those relating to merchandising, real estate and new store development, mature stores and store remodels (including Project Elevate), international expansion, store formats and concepts (including pOpshelf), digital, marketing, shrink, damages, sourcing, private brand, inventory management, supply chain, private fleet, store operations, expense reduction, and technology”
Remodel programs Project Elevate and Project Renovate
2025 rollout of Project Elevate alongside full-remodel Project Renovate
“In 2025, we expanded our remodel efforts with the rollout of Project Elevate, an incremental remodel program to our full-remodel program, Project Renovate”
Rising wage, occupancy and new store costs
Wage rates and occupancy costs rising; inflation and higher rates significantly increased new store opening and occupancy costs, hurting projected new store returns and growth plans
“Both inflation and higher interest rates have significantly increased new store opening costs and occupancy costs in recent years and, while new store returns remain strong, these increased costs have negatively impacted our projected new store returns and influenced our new store growth plans.”
Tariffs and trade barriers
Import duties/tariffs could increase cost of goods sold and SG&A if not mitigated
“sustained higher import duties or tariffs on both the products that we sell and those that we use in our business”
Financing activities including repayments and dividends
Repayments of long-term obligations of $1.7B in 2025 and $770.2M in 2024; dividends $519.5M (2025), $519.0M (2024), $518.0M (2023); no share repurchases
“During the 2025 period, we had repayments of long-term obligations of $1.7 billion. We paid cash dividends of $519.5 million and did not repurchase shares of our common stock.”
2026 capital expenditure guidance
Capital expenditures during 2026 are projected to be in the range of $1.4 billion to $1.5 billion
“Capital expenditures during 2026 are projected to be in the range of $1.4 billion to $1.5 billion.”
2026 capital funding sources
2026 capital requirements funded via cash, operating cash flows, Revolving Facility availability, and/or additional CP Notes issuance
“We anticipate funding 2026 capital requirements with a combination of some or all of the following: existing cash balances, cash flows from operations, availability under our Revolving Facility and/or the issuance of additional CP Notes.”
Q4 2024 impairment largely pOpshelf
In Q4 2024, recorded significant impairment expense, majority related to pOpshelf stores
“in the fourth quarter of 2024, we recorded a significant impairment expense, the majority of which relates to pOpshelf stores.”
Tariff exposure and IEEPA invalidation
Tariffs did not materially impact 2025 results; Supreme Court invalidated IEEPA tariffs Feb 20, 2026; uncertainty on refunds and replacement tariffs; mitigation strategies ongoing
“on February 20, 2026, the United States Supreme Court invalidated the tariffs imposed under the International Emergency Economic Powers Act (IEEPA). Significant uncertainty exists regarding potential tariff refunds and replacement tariffs under other statutes.”
Intense retail competition
Competes with discount, mass merchandise, convenience, drug, grocery, warehouse club, online, and specialty retailers
“We compete with discount stores and, to varying degrees, other retailers, including mass merchandise, convenience, variety, drug, grocery, warehouse club, online retailers, and certain specialty stores.”
Insurance and self-insurance exposure
Self-insures significant portions of workers' comp, auto, general liability, property, and group health; actuarial assumption changes could materially affect expenses
“we self-insure a significant portion of expected losses under our workers' compensation, auto liability, general liability (including claims made against certain of our landlords), property loss, and group health insurance programs.”
Inflation/recession risk
Food inflation remains elevated; rapid re-acceleration could hurt demand and gross margin, and inflationary pressure could create recessionary effects
“While accelerating levels of inflation in the United States have moderated since 2023, inflation remains elevated in certain areas, including food.”
Real estate execution risk
New store growth depends on site availability, permitting (local zoning moratoria), capital, and elevated inflation/interest rates pressuring new store returns
“Despite inflation moderation and some recent declines in interest rates, both inflation and interest rates remain at elevated levels, which significantly increases our new store opening costs and occupancy costs, pressuring new store returns and influencing our new store growth plans.”
AI competitive risk
AI adoption lag or ineffective AI use could impair competitive position
“if our competitors or third parties incorporate artificial intelligence into their businesses more quickly or more successfully than us, it could impair our ability to compete effectively”
Impairment charges in 2024 other noncash losses
Other noncash losses increased $296.2 million in 2024 vs $89.0 million in 2023, primarily due to impairment charges
“Changes in other noncash losses resulted in a $296.2 million increase as compared to a $89.0 million increase in 2023 primarily due to impairment charges in 2024.”
Commodity and energy input exposure
Uses natural gas, diesel, gasoline, electricity and plastics; climate regulation may raise compliance, merchandise and supply chain costs
“We also use natural gas, diesel fuel, gasoline, electricity and plastics in our operations”
Core customer base has fixed/low incomes, so disposable-income shocks (unemployment, inflation, government assistance changes) directly affect sales and mix shift to lower-margin consumables.
“Many of our customers have fixed or low incomes and limited discretionary spending dollars.”
Core customer base is low and fixed income households; demand and merchandise planning are built around this group's spending capacity.
“we generally locate our stores and plan our merchandise selections to best serve the needs of our core customers, the low and fixed income households”
Elevated food inflation and overall inflation raise costs and may compress demand/gross margin if prices cannot be adjusted.
“If food inflation (and in particular, "food at home," which moderately accelerated in 2025) rapidly accelerates again, we may not be able to adjust prices sufficiently”
Food/nutrition assistance eligibility changes (2025 work requirements; Jan 2026 state category exclusions) could reduce customer purchasing power.
“changes to the work requirement minimum standards for qualification enacted in 2025, and beginning in January 2026, certain states' exclusion of historically covered product categories”
The 2026 store growth plan is predominantly new stores in the United States (~450 vs ~10 in Mexico).
“approximately 450 new stores in the United States and approximately 10 new stores in Mexico”
Customer reliance ranges from fill-in trips to weekly essential-needs trips; traffic and basket size expectations are key demand drivers.
“expectations regarding sales and mix of consumable and non-consumable products, customer traffic, basket size, shrink, damages and inventory levels”
Inflation pressures core customers' budgets and vendor costs; cost inflation in food and household staples constrains customer spending.
“as well as cost inflation in frequently purchased household products (including food), which we expect will continue to pressure our customers’ spending overall.”
Import duties/tariffs on products sold and used in business raise COGS and SG&A if not mitigated.
“measures that create barriers to or increase the costs of international trade (including, if we are not able to mitigate them, sustained higher import duties or tariffs”
SNAP, unemployment benefits and stimulus programs affect core low-income customers' spending power and thus sales.
“changes in U.S. government policy and assistance programs (including cost of living adjustments and work requirements), such as SNAP, unemployment benefits, and economic stimulus programs.”
Consumer spending is an explicit factor in markdown determination for inventory, affecting gross profit.
“Factors considered in the determination of markdowns include current and anticipated demand based on changes in competitors’ practices, consumer preferences, consumer spending, significant weather events and unseasonable weather patterns.”
Tariffs on direct imports and suppliers' goods could raise costs and prices, pressuring customer budgets; 2025 impact not material but environment remains dynamic post-IEEPA invalidation.
“Currently announced tariff rates, as well as any rate increases or expansions of tariff coverage affecting the products that we sell, could have a significant impact on our business and on our customers’ budgets.”
Company flags expectations regarding tariff, inflationary and labor pressures as forward-looking uncertainties affecting results.
“expectations regarding tariff, inflationary and labor pressures”
Most profitable sales mix concentrated in Q4 Christmas season; weak seasonal sales would trigger markdowns and reduce profitability.
“Our most profitable sales mix generally occurs in the fourth quarter primarily because of sales of Christmas-related merchandise.”
Elevated interest rates raise financing and new store development costs, pressuring new store returns and growth plans.
“both inflation and interest rates remain at elevated levels, which significantly increases our new store opening costs and occupancy costs, pressuring new store returns”
Wage rates rising due to labor availability and minimum wage increases; rapid minimum wage increases could significantly adversely affect earnings.
“Significant or rapid increases to federal, state or local minimum wage rates or salary levels could significantly adversely affect our earnings if we are not able to otherwise offset these increased labor costs elsewhere in our business.”
Top two suppliers represent ~11% and ~8% of 2025 purchases, creating meaningful procurement concentration.
“Our two largest suppliers accounted for approximately 11% and 8%, respectively, of our purchases in 2025”
Changes to SNAP benefits, unemployment benefits and stimulus payments are cited as factors that could affect results.
“changes to certain government policies and assistance programs, such as Supplemental Nutrition Assistance Program ("SNAP") benefits, unemployment benefits, and economic stimulus payments”
Faster or more successful AI adoption by competitors could impair competitiveness; ineffective internal AI use could hurt position.
“if our competitors or third parties incorporate artificial intelligence into their businesses more quickly or more successfully than us, it could impair our ability to compete effectively”
Tariff pressures identified among forward-looking risk factors affecting costs and pricing.
“expectations regarding tariff, inflationary and labor pressures”
Weather events drive markdown needs and can cause greater than estimated markdowns on excess inventory.
“significant weather events and unseasonable weather patterns. Certain of these factors are outside of our control and may result in greater than estimated markdowns”
Store manager turnover reduction initiative and labor pressures are disclosed operational focuses.
“store manager turnover reduction and other initiatives”
Operations use natural gas, diesel, gasoline, electricity and plastics; climate-related regulation may raise compliance and supply chain costs.
“We also use natural gas, diesel fuel, gasoline, electricity and plastics in our operations”
Interim LIFO calculations are based on management estimates of the rate of inflation or deflation, affecting inventory valuation.
“interim LIFO calculations are based on management’s annual estimates of sales, the rate of inflation or deflation, and year-end inventory levels.”
Lease discount rates incorporate senior note yields, credit spreads over U.S. Treasury rates, and North American investment grade credit spread indices.
“Factors incorporated into the calculation of lease discount rates include the valuations and yields of our senior notes, their credit spread over comparable U.S. Treasury rates”
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