Dollar General (DG) Ramps Up Hiring Amid Coronavirus Crisis
In the wake of social distancing and staying indoors to curb the COVID-19 spread, companies are hiring associates to efficiently cater to customers’ burgeoning demand for essential goods and delivery needs. Impressively, a big-box retailer Dollar General Corporation DG has announced plans to hire roughly 50,000 workers by April end to support customers’ needs amid such tough times. This nearly doubles the company’s normal rate of hiring.
The company expects most of the hiring jobs to be temporary. However, it intends to provide long-term career opportunities to certain hired associates. Presently, the company operates over 16,300 stores across 45 states, and has 17 traditional distribution centers and five DG Fresh cold storage facilities.
Other companies like Dollar Tree, Inc. DLTR and CVS Health Corporation CVS have also taken similar measures. While Dollar Tree announced plans to appoint 25,000 workers at its namesake and Family Dollar stores, and distribution centers in the United States, CVS Health is likely to hire roughly 50,000 workers in view of coronavirus-led demand.
As e-commerce channels are witnessing higher demands due to people staying indoors, online giant Amazon AMZN is planning to hire 100,000 warehouse and delivery employees. It also stated to raise the hourly pay of hired associates in the United States by an additional $2 through the next month.
Notably, Dollar General offers a wider selection of merchandise, including consumable items, seasonal items, home products and apparel. The company's merchandise comprises national brands from leading manufacturers, as well as private brand selections with prices at substantial discounts to national brands.
Dollar General’s same-store sales growth story is impressive. Fiscal 2019 was the 30th consecutive year of same-store sales growth for the company. Management expects same-store sales increase of 2.5-3% for fiscal 2020.
In a year, shares of this Zacks Rank #3 (Hold) company have increased 17.8%, outperforming the industry’s 0.2% growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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