Dollar General’s Profits Expected to Take a Hit from Investments
Dollar General is expected to cut into its 2019 profit by revamping its supply chain and renovating its stores to add self-checkout lanes in order to compete with chains such as Walmart and Kroger. Shares fell nearly 10 percent on Thursday (March 14) after it projected full-year profits would be below expectations and said it would spend $50 million of it for the initiatives.
The company, which operates more than 15,000 stores in the United States, said it would open 975 new stores and remodel 1,000 old ones.
Read more at Reuters.