Dollar General Rolls Back Store Expansion Plan As Consumer Demand Slows

Dollar General is slowing down the pace of its store openings as consumer demand slows. The discount retailer announced in its first quarter earnings call on Thursday that it plans to open 990 new stores in 2023, a downgrade from its previously mentioned goal of 1,050 new stores this year. The rollback is concentrated in Dollar General’s Popshelf concept, which is expected to see 90 new stores this year compared to a previously anticipated 150. As a result of the shift, Dollar General said it does not expect to hit its previously outlined goal of having 1,000 Popshelf stores by the end of 2025. The slowdown comes as Dollar General notes a slowdown in demand due to pressure on consumers’ wallets. “We believe this is a prudent reduction based on the current environment,” said Dollar General CEO Jeffery Carl Owen in a call with analysts. “And as other retailers navigate what this environment means for their businesses, we believe there may be more favorable real estate opportunities to come.” Dollar General opened 1,039 new stores in 2022. As a retailer situated in the discount space, Dollar General has largely weathered sales hits due to inflation and the pandemic. Store openings in 2023 have been

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