Dollar General plans to open approximately 635 new stores in FY13

theflyonthewall.com

The company plans to open approximately 635 new stores, including approximately 20 Dollar General Market stores and 40 Dollar General Plus stores. In addition, the company plans to remodel or relocate a total of approximately 550 stores. Square footage is again expected to increase by approximately 7%. The company expects its new Pennsylvania distribution center to be fully operational in 1Q14. The company plans to utilize a portion of its cash flows in 2013 to repurchase common stock under its share repurchase program, while targeting a ratio of adjusted debt, which includes an adjustment to estimate capitalized rent based on rent expense times 8, to adjusted EBITDAR at or below 3.0 to 1.

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