Bargain hunters found other alternatives to get the products they needed at reasonable prices to close out 2021, as Dollar General’s same-store sales dropped 1.4% in the three-month period ending Jan. 28 and dipped 2.8% in the full fiscal year, according to a Thursday (March 17) press release.
Net sales for the fourth quarter were up 2.8% for Q4 and up 1.4% for the full year.
“We are pleased with our fourth quarter and fiscal year results, and I want to thank our associates for their unwavering commitment to meeting the critical needs of our customers during the pandemic,” Dollar General CEO Todd Vasos said in the company press release.
“Despite a more-challenging-than-expected operating environment, our teams remained focused on executing our operating priorities and advancing our strategic initiatives, which we believe position us well for solid sales and profit growth in 2022 and beyond,” he said.
Dollar General finalized the initial rollout of DG Fresh, opened its 18,000th store and 50 standalone pOpshelf locations in 2021, said Vasos. The company also launched new initiatives focused on health and international expansion during the year, he said.
“Overall, we are excited about our plans for 2022, as we look to further differentiate Dollar General from the rest of the retail landscape, while delivering long-term sustainable growth and value for our shareholders,” said Vasos.
Related: Dollar Tree or Three? Discount Retailer Tinkers With $3 and $5 Price Points
In other bargain retail news, the parent company of the Dollar Tree and Family Dollar chain of discount stores is exploring adding $3 and $5 bundles, mere months after announcing it was “breaking the buck” and lifting its long-standing $1 price format to $1.25.
After announcing its previous pricing initiative had been successfully implemented at all 7,800 of its Dollar Tree branded stores — two months ahead of schedule — President and CEO Michael Witynski told analysts and investors that the company was moving ahead with plans to roll out $3 and $5 product bundles in the coming months.
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