Dollar General Corporation Reports Fourth Quarter and Fiscal Year 2024 Results
Thu, 13 Mar 2025
Provides Financial Guidance for Fiscal 2025 Full Year
Outlines Long-Term Financial Framework
-
Fourth Quarter Net Sales Increased 4.5% to
$10.3 Billion ; Fiscal Year Net Sales Increased 5.0% to$40.6 Billion - Fourth Quarter Same-Store Sales Increased 1.2%; Fiscal Year Same-Store Sales Increased 1.4%
-
Fourth Quarter Operating Profit Decreased 49.2% to
$294.2 Million ; Fiscal Year Operating Profit Decreased 29.9% to$1.7 Billion -
Includes Charges of
$232 Million Associated with Store Portfolio Review in Fourth Quarter, Primarily Due to Store Closures and pOpshelf Impairment Charges
-
Includes Charges of
-
Fourth Quarter Diluted EPS Decreased 52.5% to
$0.87 ; Fiscal Year Diluted EPS Decreased 32.3% to$5.11 -
Includes Negative Impact of Approximately
$0.81 Per Share Associated with Store Portfolio Review in Fourth Quarter, Primarily Due to Store Closures and pOpshelf Impairment Charges
-
Includes Negative Impact of Approximately
-
Annual Cash Flows From Operations Increased 25.3% to
$3.0 Billion -
Board of Directors Declares Quarterly Cash Dividend of
$0.59 per share
“We were pleased with the underlying performance of the business in the fourth quarter, including improved execution and solid top-line results,” said
“I want to thank each of our associates for their dedication to fulfilling our mission of Serving Others every day. Looking ahead, we believe we are well-positioned to deliver our unique combination of value and convenience at a time when our customers need it most. We have fortified the foundation of this business over the last year and are confident in our plans and initiatives for 2025 and beyond, as we look to further build on this base and create sustainable long-term value for our shareholders.”
Fourth Quarter Fiscal 2024 Highlights
Net sales increased 4.5% to
Gross profit as a percentage of net sales was 29.4% in the fourth quarter of fiscal 2024 compared to 29.5% in the fourth quarter of fiscal 2023, a decrease of 8 basis points. This gross profit rate decrease was driven primarily by increases in markdowns, inventory damages, and distribution costs, and a greater proportion of sales coming from the consumables category; partially offset by lower shrink and higher inventory markups.
Selling, General and Administrative Expenses (“SG&A”) as a percentage of net sales were 26.5% in the fourth quarter of fiscal 2024 compared to 23.6% in the fourth quarter of fiscal 2023, an increase of 294 basis points. The increase reflects fourth quarter impairment charges totaling
Operating profit for the fourth quarter of fiscal 2024 decreased 49.2% to
Interest expense for the fourth quarter of fiscal 2024 decreased 14.5% to
The effective income tax rate in the fourth quarter of fiscal 2024 was 16.2% compared to 20.0% in the fourth quarter of fiscal 2023. This lower effective income tax rate was primarily due to the effect of certain rate-impacting items on lower earnings before taxes.
The Company reported net income of
Fiscal Year 2024 Highlights
Fiscal 2024 net sales increased 5.0% to
Gross profit as a percentage of net sales was 29.6% in fiscal 2024, compared to 30.3% in fiscal 2023, a decrease of 70 basis points. The gross profit rate decrease in 2024 was driven primarily by increased markdowns, a greater proportion of sales coming from the consumables category and increased inventory damages; partially offset by decreased transportation costs.
SG&A as a percentage of net sales was 25.4% in fiscal 2024 compared to 24.0% in fiscal 2023, an increase of 140 basis points. The increase reflects fiscal 2024 impairment charges totaling
Operating profit for fiscal 2024 decreased 29.9% to
Interest expense for fiscal 2024 decreased 16.1% to
The effective income tax rate in fiscal 2024 was 21.8% compared to 21.6% in fiscal 2023. This higher effective income tax rate was primarily due to a higher state effective tax rate and a decreased benefit from stock-based compensation, partially offset by the effect of certain rate-impacting items on lower earnings before taxes.
The Company reported net income of
Store Portfolio Optimization Review
During the fourth quarter of fiscal 2024, the Company initiated a store portfolio optimization review of its
As a result of this review, the Company plans to close 96
“As we look to build on the substantial progress we made on our Back to Basics work in fiscal 2024, we believe this review was appropriate to further strengthen the foundation of our business,” said
Merchandise Inventories
As of
Capital Expenditures
Total additions to property and equipment in fiscal 2024 were
Share Repurchases
In fiscal 2024, as planned, the Company did not repurchase any shares under its share repurchase program.
Dividend
On
Fiscal Year 2025 Financial Guidance and Store Growth Outlook
For fiscal 2025, the Company expects the following:
- Net sales growth in the range of approximately 3.4% to 4.4%
- Same-store sales growth in the range of approximately 1.2% to 2.2%
-
Diluted EPS in the range of approximately
$5.10 to$5.80 - Diluted EPS guidance assumes an effective tax rate of approximately 23.5%
-
Capital expenditures, including those related to investments in the Company’s strategic initiatives, in the range of
$1.3 billion to$1.4 billion
The Company is also reiterating its plans to execute approximately 4,885 real estate projects in fiscal 2025, including opening approximately 575 new stores in the
The Company’s financial guidance also assumes no share repurchases in fiscal 2025.
Long-Term Financial Framework
The Company has updated its long-term financial framework, and is targeting the following metrics over the next five years:
Key Metric |
Annual Goal |
Beginning |
Net Sales Growth |
Approximately 3.5% - 4% |
2025 |
Same-Store Sales Growth |
Approximately 2% - 3% |
2025 - 2026 |
Operating Margin* |
Approximately 6% - 7% |
2028 - 2029 |
Diluted Earnings Per Share Growth* |
10%+ |
2026 |
New Unit Growth |
Approximately 2% |
2025 |
Capital Expenditures |
Approximately 3% of |
2025 |
* On an adjusted basis, when applicable |
“As we build on our Back to Basics progress in 2025, we believe we are making the right investments and taking the appropriate actions to begin moving toward our updated long-term financial goals in the years ahead,” said
Conference Call Information
The Company will hold a conference call on
Forward-Looking Statements
This press release contains forward-looking information within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act. Forward-looking statements include those regarding the Company’s outlook, strategy, initiatives, plans, intentions or beliefs, including, but not limited to, statements made within the quotations of
A reader can identify forward-looking statements because they are not limited to historical fact or they use words such as “accelerate,” “aim,” “anticipate,” “assume,” “believe,” “beyond,” “can,” “committed,” “confident,” “continue,” “could,” “drive,” “estimate,” “expect,” “focus on,” “forecast,” “future,” “goal,” “guidance,” “intend,” “investments,” “likely,” “long-term,” “looking ahead,” “look to,” “may,” “model,” “moving toward,” “near-term,” “ongoing,” “opportunities,” “outcome,” “outlook,” “plan,” “position,” “potential,” “predict,” “project,” “prospects,” “seek,” “should,” “subject to,” “target,” “uncertain,” “well-positioned,” “will,” “would,” or “years ahead,” and similar expressions that concern the Company’s outlook, long-term financial framework, strategies, plans, initiatives, intentions or beliefs about future occurrences or results. These matters involve risks, uncertainties and other factors that may change at any time and may cause actual results to differ materially from those which the Company expected. Many of these statements are derived from the Company’s operating budgets and forecasts as of the date of this release, which are based on many detailed assumptions and estimates that the Company believes are reasonable. However, it is very difficult to predict the effect of known factors on future results, and the Company cannot anticipate all factors that could affect future results that may be important to an investor. All forward-looking information should be evaluated in the context of these risks, uncertainties and other factors. Important factors that could cause actual results to differ materially from the expectations expressed in or implied by such forward-looking statements include, but are not limited to:
- economic factors, including but not limited to employment levels; inflation (and the Company’s ability to adjust prices sufficiently to offset the effect of inflation); pandemics; higher fuel, energy, healthcare, housing and product costs; higher interest rates, consumer debt levels, and tax rates; lack of available credit; tax law changes that negatively affect credits and refunds; decreases in, or elimination of, government assistance programs or subsidies such as unemployment and food/nutrition assistance programs, student loan repayment forgiveness and economic stimulus payments; commodity rates; transportation, lease and insurance costs; wage rates (including the possibility of increased federal, and further increased state and/or local minimum wage rates/salary levels); foreign exchange rate fluctuations; measures that create barriers to or increase the costs of international trade (including increased import duties or tariffs, which are expected to increase beginning in 2025); and changes in laws and regulations and their effect on, as applicable, customer spending, confidence and disposable income, the Company’s ability to execute its strategies and initiatives, the Company’s cost of goods sold, the Company’s SG&A expenses (including real estate and building costs), and the Company’s sales and profitability;
- failure to achieve or sustain the Company’s strategies, initiatives and investments, including those relating to merchandising (including those related to non-consumable products), real estate and new store development, mature stores and store remodels (including Project Elevate), international expansion, store formats and concepts, digital, marketing, shrink, damages, sourcing, private brand, inventory management, supply chain, private fleet, store operations, expense reduction, technology, pOpshelf, and DG Media Network;
- competitive pressures and changes in the competitive environment and the geographic and product markets where the Company operates, including, but not limited to, pricing, promotional activity, expanded availability of mobile, web-based and other digital technologies, and alliances or other business combinations;
- failure to timely and cost-effectively execute the Company’s real estate projects and timely meet its financial expectations, or to anticipate or successfully address the challenges imposed by the Company’s expansion, including into new countries or domestic markets, states, or urban or suburban areas;
- levels of inventory shrinkage and damages;
- failure to successfully manage inventory balances and in-stock levels, as well as to predict customer trends;
-
failure to maintain the security of the Company’s business, customer, employee or vendor information or to comply with privacy laws, or the Company or one of its vendors falling victim to a cyberattack (which risk is heightened as a result of political uncertainty involving
China , the conflict betweenRussia andUkraine and the conflict in theMiddle East ) that prevents the Company from operating all or a portion of its business; - damage or interruption to the Company’s information systems as a result of external factors, staffing shortages or challenges in maintaining or updating the Company’s existing technology or developing, implementing or integrating new technology (including artificial intelligence);
- a significant disruption to the Company’s distribution network, the capacity of the Company’s distribution centers or the timely receipt of inventory; increased fuel or transportation costs; issues related to supply chain disruptions or seasonal buying pattern disruptions; or delays in constructing, opening or staffing new distribution centers (including temperature-controlled distribution centers);
-
risks and challenges associated with sourcing merchandise from suppliers, including, but not limited to, those related to international trade (for example, increasing tariffs on goods from
China ,Mexico , andCanada , political uncertainty involvingChina , disruptive political events such as the conflict betweenRussia andUkraine and the conflict in theMiddle East , and port labor disputes/agreements); -
natural disasters, unusual weather conditions (whether or not caused by climate change), pandemic outbreaks or other health crises, political or civil unrest, acts of war, violence or terrorism, and disruptive global political events (for example, political uncertainty involving
China , the conflict betweenRussia andUkraine and the conflict in theMiddle East ); - product liability, product recall or product safety, labeling or other product-related claims;
- incurrence of material uninsured losses, excessive insurance costs or accident costs;
- failure to attract, develop and retain qualified employees while controlling labor costs (including the heightened possibility of increased federal, and further increased state and/or local minimum wage rates/salary levels, and other labor issues, including employee expectations and productivity and employee safety issues;
- loss of key personnel or inability to hire additional qualified personnel, ability to successfully execute management transitions within the Company’s senior leadership; or inability to enforce non-compete agreements that we have in place with management personnel or enter into new non-compete agreements;
- risks associated with the Company’s private brands, including, but not limited to, the Company’s level of success in improving their gross profit rate at expected levels;
- failure to protect the Company’s reputation;
- seasonality of the Company’s business;
- reliance on third parties in many aspects of the Company’s business;
- deterioration in market conditions, including market disruptions, adverse conditions in the financial markets including financial institution failures, limited liquidity and interest rate increases, changes in the Company’s credit profile (including the Company’s current increased debt levels or any downgrade to the Company’s credit ratings), compliance with covenants and restrictions under the Company’s debt agreements, and the amount of the Company’s available excess capital;
-
the impact of changes in or noncompliance with governmental regulations and requirements, including, but not limited to, those dealing with the sale of products, including without limitation, product and food safety, marketing, labeling or pricing; information security and privacy; labor and employment; employee wages, salary levels and benefits (including the possibility of increased federal, and further increased state and/or local minimum wage rates/salary levels); health and safety; real property; public accommodations; imports and customs; transportation; intellectual property; bribery and anti-corruption; climate change; and environmental compliance (including any required public disclosures related thereto), as well as tax laws and policies (including those related to the federal, state or foreign corporate tax rate), the interpretation of existing tax laws, or the Company’s failure to sustain its reporting positions negatively affecting the Company’s overall effective tax rate, and uncertainty surrounding potential changes to the regulatory environment under the current
U.S. administration; -
developments in or outcomes of private actions, class actions, multi-district litigation, arbitrations, derivative actions, administrative proceedings, regulatory actions or other litigation or of inquiries from federal, state and local agencies, regulatory authorities, attorneys general, committees, subcommittees and members of the
U.S. Congress , and other local, state, federal and international governmental authorities; - new accounting guidance or changes in the interpretation or application of existing guidance;
- the factors disclosed under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q; and
- such other factors as may be discussed or identified in this press release.
All forward-looking statements are qualified in their entirety by these and other cautionary statements that the Company makes from time to time in its
Investors should also be aware that while the Company does, from time to time, communicate with securities analysts and others, it is against the Company’s policy to disclose to them any material, nonpublic information or other confidential commercial information. Accordingly, shareholders should not assume that the Company agrees with any statement or report issued by any securities analyst regardless of the content of the statement or report. Furthermore, the Company has a policy against confirming projections, forecasts or opinions issued by others. Thus, to the extent that reports issued by securities analysts contain any projections, forecasts or opinions, such reports are not the Company’s responsibility.
About
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES | ||||||
Condensed Consolidated Balance Sheets | ||||||
(In thousands) | ||||||
(Unaudited) | ||||||
2025 |
2024 |
|||||
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ |
932,576 |
$ |
537,283 |
||
Merchandise inventories |
|
6,711,242 |
|
6,994,266 |
||
Income taxes receivable |
|
127,132 |
|
112,262 |
||
Prepaid expenses and other current assets |
|
392,975 |
|
366,913 |
||
Total current assets |
|
8,163,925 |
|
8,010,724 |
||
Net property and equipment |
|
6,209,481 |
|
6,087,722 |
||
Operating lease assets |
|
11,163,763 |
|
11,098,228 |
||
|
4,338,589 |
|
4,338,589 |
|||
Other intangible assets, net |
|
1,199,700 |
|
1,199,700 |
||
Other assets, net |
|
57,275 |
|
60,628 |
||
Total assets | $ |
31,132,733 |
$ |
30,795,591 |
||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||
Current liabilities: | ||||||
Current portion of long-term obligations | $ |
519,463 |
$ |
768,645 |
||
Current portion of operating lease liabilities |
|
1,460,114 |
|
1,387,083 |
||
Accounts payable |
|
3,833,133 |
|
3,587,374 |
||
Accrued expenses and other |
|
1,045,856 |
|
971,890 |
||
Income taxes payable |
|
10,136 |
|
10,709 |
||
Total current liabilities |
|
6,868,702 |
|
6,725,701 |
||
Long-term obligations |
|
5,719,025 |
|
6,231,539 |
||
Long-term operating lease liabilities |
|
9,764,783 |
|
9,703,499 |
||
Deferred income taxes |
|
1,103,701 |
|
1,133,784 |
||
Other liabilities |
|
262,815 |
|
251,949 |
||
Total liabilities |
|
23,719,026 |
|
24,046,472 |
||
Commitments and contingencies | ||||||
Shareholders' equity: | ||||||
Preferred stock |
|
- |
|
- |
||
Common stock |
|
192,447 |
|
192,206 |
||
Additional paid-in capital |
|
3,812,590 |
|
3,757,005 |
||
Retained earnings |
|
3,405,683 |
|
2,799,415 |
||
Accumulated other comprehensive income (loss) |
|
2,987 |
|
493 |
||
Total shareholders' equity |
|
7,413,707 |
|
6,749,119 |
||
Total liabilities and shareholders' equity | $ |
31,132,733 |
$ |
30,795,591 |
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES | ||||||||||||||||
Consolidated Statements of Income | ||||||||||||||||
(In thousands, except per share amounts) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
For the Quarter Ended | ||||||||||||||||
% of Net | % of Net | |||||||||||||||
2025 |
Sales | 2024 |
Sales | |||||||||||||
Net sales | $ |
10,304,498 |
100.00 |
% |
$ |
9,858,514 |
100.00 |
% |
||||||||
Cost of goods sold |
|
7,274,929 |
70.60 |
|
6,952,178 |
70.52 |
||||||||||
Gross profit |
|
3,029,569 |
29.40 |
|
2,906,336 |
29.48 |
||||||||||
Selling, general and administrative expenses |
|
2,735,363 |
26.55 |
|
2,326,682 |
23.60 |
||||||||||
Operating profit |
|
294,206 |
2.86 |
|
579,654 |
5.88 |
||||||||||
Interest expense, net |
|
65,908 |
0.64 |
|
77,117 |
0.78 |
||||||||||
Income before income taxes |
|
228,298 |
2.22 |
|
502,537 |
5.10 |
||||||||||
Income tax expense |
|
37,081 |
0.36 |
|
100,724 |
1.02 |
||||||||||
Net income | $ |
191,217 |
1.86 |
% |
$ |
401,813 |
4.08 |
% |
||||||||
Earnings per share: | ||||||||||||||||
Basic | $ |
0.87 |
$ |
1.83 |
||||||||||||
Diluted | $ |
0.87 |
$ |
1.83 |
||||||||||||
Weighted average shares outstanding: | ||||||||||||||||
Basic |
|
219,934 |
|
219,585 |
||||||||||||
Diluted |
|
219,996 |
|
219,893 |
||||||||||||
For the Year Ended | ||||||||||||||||
|
|
% of Net |
|
|
|
|
|
% of Net |
||||||||
2025 |
|
Sales |
|
|
|
2024 |
|
Sales |
||||||||
Net sales | $ |
40,612,308 |
100.00 |
% |
$ |
38,691,609 |
100.00 |
% |
||||||||
Cost of goods sold |
|
28,594,811 |
70.41 |
|
26,972,585 |
69.71 |
||||||||||
Gross profit |
|
12,017,497 |
29.59 |
|
11,719,024 |
30.29 |
||||||||||
Selling, general and administrative expenses |
|
10,303,423 |
25.37 |
|
9,272,724 |
23.97 |
||||||||||
Operating profit |
|
1,714,074 |
4.22 |
|
2,446,300 |
6.32 |
||||||||||
Interest expense, net |
|
274,320 |
0.68 |
|
326,781 |
0.84 |
||||||||||
Income before income taxes |
|
1,439,754 |
3.55 |
|
2,119,519 |
5.48 |
||||||||||
Income tax expense |
|
314,501 |
0.77 |
|
458,245 |
1.18 |
||||||||||
Net income | $ |
1,125,253 |
2.77 |
% |
$ |
1,661,274 |
4.29 |
% |
||||||||
Earnings per share: | ||||||||||||||||
Basic | $ |
5.12 |
$ |
7.57 |
||||||||||||
Diluted | $ |
5.11 |
$ |
7.55 |
||||||||||||
Weighted average shares outstanding: | ||||||||||||||||
Basic |
|
219,877 |
|
219,415 |
||||||||||||
Diluted |
|
220,027 |
|
219,938 |
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES | ||||||||
Consolidated Statements of Cash Flows | ||||||||
(In thousands) | ||||||||
(Unaudited) | ||||||||
For the Year Ended | ||||||||
2025 |
2024 |
|||||||
Cash flows from operating activities: | ||||||||
Net income | $ |
1,125,253 |
|
$ |
1,661,274 |
|
||
Adjustments to reconcile net income to net cash from operating activities: | ||||||||
Depreciation and amortization |
|
971,703 |
|
|
848,793 |
|
||
Deferred income taxes |
|
(30,345 |
) |
|
72,847 |
|
||
Noncash share-based compensation |
|
58,738 |
|
|
51,891 |
|
||
Other noncash (gains) and losses |
|
296,184 |
|
|
88,982 |
|
||
Change in operating assets and liabilities: | ||||||||
Merchandise inventories |
|
230,208 |
|
|
(299,066 |
) |
||
Prepaid expenses and other current assets |
|
(23,864 |
) |
|
(63,576 |
) |
||
Accounts payable |
|
302,915 |
|
|
36,940 |
|
||
Accrued expenses and other liabilities |
|
91,813 |
|
|
(39,189 |
) |
||
Income taxes |
|
(15,443 |
) |
|
25,303 |
|
||
Other |
|
(11,098 |
) |
|
7,599 |
|
||
Net cash provided by (used in) operating activities |
|
2,996,064 |
|
|
2,391,798 |
|
||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment |
|
(1,309,888 |
) |
|
(1,700,222 |
) |
||
Proceeds from sales of property and equipment |
|
3,561 |
|
|
6,199 |
|
||
Net cash provided by (used in) investing activities |
|
(1,306,327 |
) |
|
(1,694,023 |
) |
||
Cash flows from financing activities: | ||||||||
Issuance of long-term obligations |
|
- |
|
|
1,498,260 |
|
||
Repayments of long-term obligations |
|
(770,230 |
) |
|
(19,723 |
) |
||
Net increase (decrease) in commercial paper outstanding |
|
- |
|
|
(1,501,900 |
) |
||
Borrowings under revolving credit facilities |
|
- |
|
|
500,000 |
|
||
Repayments of borrowings under revolving credit facilities |
|
- |
|
|
(500,000 |
) |
||
Costs associated with issuance of debt |
|
(2,319 |
) |
|
(12,438 |
) |
||
Payments of cash dividends |
|
(518,983 |
) |
|
(517,979 |
) |
||
Other equity and related transactions |
|
(2,912 |
) |
|
11,712 |
|
||
Net cash provided by (used in) financing activities |
|
(1,294,444 |
) |
|
(542,068 |
) |
||
Net increase (decrease) in cash and cash equivalents |
|
395,293 |
|
|
155,707 |
|
||
Cash and cash equivalents, beginning of period |
|
537,283 |
|
|
381,576 |
|
||
Cash and cash equivalents, end of period | $ |
932,576 |
|
$ |
537,283 |
|
||
Supplemental cash flow information: | ||||||||
Cash paid for: | ||||||||
Interest | $ |
336,625 |
|
$ |
352,473 |
|
||
Income taxes | $ |
354,727 |
|
$ |
359,578 |
|
||
Supplemental schedule of non-cash investing and financing activities: | ||||||||
Right of use assets obtained in exchange for new operating lease liabilities | $ |
1,592,510 |
|
$ |
1,804,934 |
|
||
Purchases of property and equipment awaiting processing for payment, included in Accounts payable | $ |
90,981 |
|
$ |
148,137 |
|
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES | ||||||||||
Selected Additional Information | ||||||||||
(Unaudited) | ||||||||||
Sales by Category (in thousands) | ||||||||||
For the Quarter Ended | ||||||||||
2025 |
2024 |
% Change | ||||||||
Consumables | $ |
8,317,184 |
$ |
7,897,566 |
|
5.3 |
% |
|||
Seasonal |
|
1,114,808 |
|
1,104,314 |
|
1.0 |
% |
|||
Home products |
|
593,010 |
|
581,501 |
|
2.0 |
% |
|||
Apparel |
|
279,496 |
|
275,133 |
|
1.6 |
% |
|||
Net sales | $ |
10,304,498 |
$ |
9,858,514 |
|
4.5 |
% |
|||
For the Year Ended | ||||||||||
2025 |
2024 |
% Change | ||||||||
Consumables | $ |
33,370,910 |
$ |
31,342,595 |
|
6.5 |
% |
|||
Seasonal |
|
4,073,317 |
|
4,083,790 |
|
-0.3 |
% |
|||
Home products |
|
2,074,379 |
|
2,163,806 |
|
-4.1 |
% |
|||
Apparel |
|
1,093,702 |
|
1,101,418 |
|
-0.7 |
% |
|||
Net sales | $ |
40,612,308 |
$ |
38,691,609 |
|
5.0 |
% |
|||
Store Activity | ||||||||||
For the Year Ended | ||||||||||
2025 |
2024 |
|||||||||
Beginning store count |
|
19,986 |
|
19,104 |
|
|||||
New store openings |
|
725 |
|
987 |
|
|||||
Store closings |
|
(117 |
) |
(105 |
) |
|||||
Net new stores |
|
608 |
|
882 |
|
|||||
Ending store count |
|
20,594 |
|
19,986 |
|
|||||
Total selling square footage (000's) |
|
156,882 |
|
151,095 |
|
|||||
Growth rate (square footage) |
|
3.8 |
% |
5.7 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250311609803/en/
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Media Contact:
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Source: