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logoArgus•March 28, 2024

Dollar General Corporation: Raising target to $175 from $160

Symbols
DG
Sector(s)
Consumer Defensive
Rating
Current Price
$142.07
Price Target
Earnings Estimate
Summary

Dollar General, based in Goodlettsville, Tennessee, operates 20,000 discount stores across the United States and in Mexico. It generated $38.7 billion in sales in the fiscal year ended February 3, 2024. More than 80% of DG stores are in communities with populations of less than 20,000. Three quarters of the U.S. population lives within three miles of a Dollar General store. Total selling space is approximately 151 million square feet. DG is expanding its traditional store from 7,400 square feet to 8,500 or 9,500 to accommodate more refrigerators and a wider assortment. Sales were $263 per square foot in FY24. Stores sell everyday necessities that drive frequent visits. DG generates about 80% of sales from consumables such as cleaning supplies and over-the-counter medicines, and 10% of sales from seasonal products including toys. About 6% of sales come from home products such

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Analyst Profile

Chris Graja, CFA

Senior Analyst: Retail
Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.