Dollar General to open 900 stores in fiscal year 2016

Goodlettsville, Tenn.-based Dollar General Corp. said it plans to open approximately 900 new stores and relocate or remodel 875 stores in fiscal 2016. For fiscal 2017, the company predicts it will open 1,000 new stores and relocate or remodel about 900 stores, in line with its growth model of 6 to 8 percent square footage growth.

“Dollar General has a powerful strategic plan that enables us to drive both the top line and bottom line to deliver strong financial returns as outlined in our growth model over the long-term," said Todd Vasos, CEO, Dollar General. "With strong cash flow and an efficient capital structure, we believe that we have a compelling opportunity to invest for growth while also returning cash to shareholders through consistent share repurchases and anticipated quarterly dividends."