Dollar General has announced plans to close 96 of its Dollar General stores and 45 pOpshelf stores in the first quarter of fiscal 2025. Additionally, six pOpshelf stores will be converted into Dollar General stores. This decision follows a thorough review of their store portfolio, assessing various factors such as individual store performance and operating conditions. While the closures account for less than 1% of the company’s overall store base, CEO Todd Vasos highlighted the necessity of these actions to reinforce the company’s foundation.
The closures are expected to have a notable financial impact, as reflected in the $232 million in charges reported for the fourth quarter of fiscal 2024. This charge, which includes costs associated with store closures and impairment charges, has negatively impacted earnings by approximately $0.81 per share.
Vasos also commented on the economic challenges facing the company’s customers, noting that many have reported worsening financial situations due to inflation, with some struggling to afford basic necessities.
As of now, Dollar General has not disclosed specific locations for the planned closures but we do know it is closing Susanville location. The company operates over 20,000 locations across the United States, spanning 48 states.
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