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Dollar General (DG) to Boost Healthcare Offerings Across Stores
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Dollar General Corporation (DG - Free Report) , which has been keen on expanding offerings to serve customers better, recently announced the planned expansion of its healthcare products and services across stores. This marks the first-step taken by the well-known discount retailer to establish itself as popular healthcare destination. Dollar General will be increasing product assortments related to cough and cold, dental, nutritional, medical, health aids and feminine hygiene in several stores. Let’s take a closer look into this latest initiative of the company.
Prudent Efforts to Enhance Assortments
Dollar General’s move to boost healthcare offerings is triggered by consumers demand for easier access to such products, especially in rural communities. The company has more than 17,000 stores located across the United States, including many in rural regions. Approximately 75% of the nation’s population lives within a 5-mile vicinity from a Dollar General store. This unique positioning and ease of access aids the company to cater to customers in rural regions.
The company’s efforts to expand healthcare assortments are backed by its strong infrastructural capabilities, robust supply chain as well as its existing health and nutritional offerings.
It also announced the appointment of Albert Wu, M.D. to the newly created position of vice president, chief medical officer. As part of his responsibilities, Dr. Wu will help in the development of new health care services and thereby build a comprehensive network of affordable services for customers.
Speaking of efforts to boost assortments, Dollar General has been focusing on enhancing the availability of both consumables and non-consumable items, as well as offering better-for-you products at affordable prices. The company has been expanding its cooler facilities to enhance the sale of perishable items. During first-quarter fiscal 2021, it installed about 18,000 cooler doors across its store base, and plans to install roughly 65,000 cooler doors in fiscal 2021. The company expanded its fresh products offerings in more than 1,300 stores. Its non-consumable offering was available in more than 7,300 stores at the end of the first quarter.
Dollar general’s prudent store expansion and remodeling strategies is likely to compliment its efforts to expand assortments. For fiscal 2021, the company remains on track to carry out 2,900 real estate projects. This includes 1,050 new store openings, 1,750 remodels and 100 relocations.
Image Source: Zacks Investment Research
Wrapping Up
As the pandemic-led restrictions ease across the nation, consumers are visiting stores more often. Amid such a scenario, the company’s moves to expand product offerings as well as restructure store base are likely to help it in gaining more market share and driving revenue growth. The company has been striving to attract consumers through convenient delivery and payment options. Such efforts keep this Zacks Rank #1 (Strong Buy) stock well positioned for growth in the days ahead.
Shares of the company have gained 7.2% in the past three months, compared with the industry’s growth of 6.3%.
Burlington Stores, Inc. (BURL - Free Report) has a trailing four-quarter earnings surprise of 74.7%, on average. The stock sports a Zacks Rank #1.
Costco Wholesale Corporation (COST - Free Report) has a long-term earnings growth rate of 9.1%. It presently carries a Zacks Rank #2 (Buy).
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Dollar General (DG) to Boost Healthcare Offerings Across Stores
Dollar General Corporation (DG - Free Report) , which has been keen on expanding offerings to serve customers better, recently announced the planned expansion of its healthcare products and services across stores. This marks the first-step taken by the well-known discount retailer to establish itself as popular healthcare destination. Dollar General will be increasing product assortments related to cough and cold, dental, nutritional, medical, health aids and feminine hygiene in several stores. Let’s take a closer look into this latest initiative of the company.
Prudent Efforts to Enhance Assortments
Dollar General’s move to boost healthcare offerings is triggered by consumers demand for easier access to such products, especially in rural communities. The company has more than 17,000 stores located across the United States, including many in rural regions. Approximately 75% of the nation’s population lives within a 5-mile vicinity from a Dollar General store. This unique positioning and ease of access aids the company to cater to customers in rural regions.
The company’s efforts to expand healthcare assortments are backed by its strong infrastructural capabilities, robust supply chain as well as its existing health and nutritional offerings.
It also announced the appointment of Albert Wu, M.D. to the newly created position of vice president, chief medical officer. As part of his responsibilities, Dr. Wu will help in the development of new health care services and thereby build a comprehensive network of affordable services for customers.
Speaking of efforts to boost assortments, Dollar General has been focusing on enhancing the availability of both consumables and non-consumable items, as well as offering better-for-you products at affordable prices. The company has been expanding its cooler facilities to enhance the sale of perishable items. During first-quarter fiscal 2021, it installed about 18,000 cooler doors across its store base, and plans to install roughly 65,000 cooler doors in fiscal 2021. The company expanded its fresh products offerings in more than 1,300 stores. Its non-consumable offering was available in more than 7,300 stores at the end of the first quarter.
Dollar general’s prudent store expansion and remodeling strategies is likely to compliment its efforts to expand assortments. For fiscal 2021, the company remains on track to carry out 2,900 real estate projects. This includes 1,050 new store openings, 1,750 remodels and 100 relocations.
Wrapping Up
As the pandemic-led restrictions ease across the nation, consumers are visiting stores more often. Amid such a scenario, the company’s moves to expand product offerings as well as restructure store base are likely to help it in gaining more market share and driving revenue growth. The company has been striving to attract consumers through convenient delivery and payment options. Such efforts keep this Zacks Rank #1 (Strong Buy) stock well positioned for growth in the days ahead.
Shares of the company have gained 7.2% in the past three months, compared with the industry’s growth of 6.3%.
3 Retail Stocks to Consider
Target Corporation (TGT - Free Report) , sporting a Zacks Rank #1, has a long-term earnings growth rate of 13.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Burlington Stores, Inc. (BURL - Free Report) has a trailing four-quarter earnings surprise of 74.7%, on average. The stock sports a Zacks Rank #1.
Costco Wholesale Corporation (COST - Free Report) has a long-term earnings growth rate of 9.1%. It presently carries a Zacks Rank #2 (Buy).
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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