STORES EMPLOYEES TRANSACTIONS SALES
14,500+
STORES
129,000+
EMPLOYEES
2 BILLION
TRANSACTIONS
$23 BILLION+
SALES
37
22 11
198 109
42 95
IN 44 STATES
13 119
30
35
45
45 119
228 427
1,409
153
221 520
498
415 481
532
465
439 675
753 489
497 728
234 394 782
513
716
820
41 12 47 120 45 136
824
ABOUT DOLLAR GENERAL
Dollar General Corporation has been delivering value to shoppers for over 75 years. Dollar General helps shoppers Save time. Save money. Every day!? by o ering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at everyday low prices in convenient neighborhood locations. Dollar General operated 14,534 stores in 44 states as of February 2, 2018. In addition to high-quality private brands, Dollar General sells products from America's most-trusted manufacturers such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg's, General Mills, and PepsiCo.
Learn more about Dollar General and shop online at:
Cautionary Language Regarding Forward-Looking Statements: All forwardlooking information in this report should be read with, and is qualified in its entirety by, the Cautionary Disclosure Regarding Forward-Looking Statements and the Risk Factors disclosures set forth in the Introduction and in Item 1A, respectively, of the Form 10-K included elsewhere in this report. The information contained on or connected to our Internet websites is not incorporated by reference into this report and should not be considered part of this or any other report that we file with or furnish to the SEC.
TO OUR FELLOW SHAREHOLDERS, CUSTOMERS & EMPLOYEES
At Dollar General, our mission is Serving Others, and we think our customers are best served when we focus on what matters most to them. Our customers know they can rely on us to deliver a unique combination of value and convenience, and our goal is to do everything we can to provide them with a great shopping experience.
Dollar General achieved meaningful milestones in 2017. We completed over 2,000 real estate projects, celebrated the opening of our 14,000th store, began shipping from our 15th distribution center and executed nearly two billion customer transactions. All of this hard work helped Dollar General deliver its 28th consecutive year of same-store sales growth, and we believe that we are well-positioned to capitalize on growth opportunities over both the short and long term.
Highlights of 2017 Compared to 2016
? Net sales increased by 6.8% to $23.5 billion and samestore sales grew 2.7%. The 2016 53rd week negatively impacted the fiscal year 2017 net sales growth rate by approximately two percentage points.
? We reported net income of $1.54 billion, or $5.63 per diluted share.
? Cash flows from operations were $1.8 billion, an increase of 12.3%.
? We returned $863 million to our shareholders through the combination of share repurchases and dividends.
? We opened a record 1,315 new stores, including the acquisition of nearly 300 store sites from another retailer, and remodeled or relocated an additional 764 locations.
We believe that our strong performance in 2017 reflects the strategic investments we have made in our business and our people. As we look ahead, we are building momentum behind key strategic initiatives that we believe will drive sales and profit growth in the future. In 2018, we plan to invest in digital tools and resources to drive traffic to our stores and provide our customers with a more personalized and convenient in-store shopping experience. This will allow us to leverage our more than 14,500 stores to further enhance the value and convenience proposition for our customers.
We also plan to begin implementing a bold, new and expanded assortment in certain non-consumable product categories. The new and differentiated assortment at compelling prices is aimed at enhancing the treasure-hunt experience for our customer, as well as further complementing our strong and growing consumables business.
In addition to these and other strategic initiatives, we remain focused on delivering sustainable growth and value to all of our stakeholders through our four key operating priorities:
1. Driving profitable sales growth: We intend to drive a balance of top and bottom line growth by continuing to grow new customer trips, in addition to capturing additional share with existing
customers. We expect to continue to build on our success with various merchandising and operations initiatives, in addition to leveraging opportunities for gross margin expansion, including shrink reduction, distribution and transportation efficiencies, foreign sourcing, private brand penetration and increased non-consumable sales.
2. Capturing growth opportunities: Our flexible real estate model is a strategic foundation for our continued growth. It positions us well to invest in new store growth, enter new markets, deliver new formats and reinvest in our mature store base. In 2018, we expect to open 900 new stores, remodel 1,000 of our mature store locations and relocate approximately 100 stores.
3. Leveraging our position as a low cost operator: We remain committed to controlling expenses through our clear and defined process. In 2018, we have initiatives in place to focus on work simplification and efficiency in the stores and at the store support center. We believe that these efforts will help control costs and focus spending on the customer and our key strategic initiatives.
4. Investing in our people as a competitive advantage: We know our employees are a competitive advantage, and we have a track record of investment in compensation and training to deliver on our ongoing commitment to their continued development. In 2017, we were proud to see the lowest level of store manager turnover in the past five years, and are pleased to note that over 10,000 of our current store managers were promoted internally. This year, we are introducing an expanded, paid parental leave policy and adoption assistance benefit as well as other training efforts to prepare employees for future success.
Dollar General's mission to serve extends to the communities we call home. In 2017, Dollar General and our foundations continued the legacy of the Company's founder J. L. Turner in helping to improve people's quality of life through literacy and basic education. Together with the Dollar General Literacy Foundation, we donated a total of $20 million to literacy organizations and other important charitable causes.
I am grateful to our nearly 130,000 employees whose incredible work this past year helped create value for our customers and shareholders alike. We look forward to capitalizing on our momentum in 2018 as we continue to execute our strategy, and remain focused on serving our customers with the value and convenience they know and expect from Dollar General.
Thank you for your continued support.
Respectfully,
Todd J. Vasos
CHIEF EXECUTIVE OFFICER April 12, 2018
PROXY STATEMENT & MEETING NOTICE
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- serving others dollar general s code of business
- stores employees transactions sales
- a free general thank you letter sample
- holiday thank you employees support staff
- thank you letter email after interview
- event attendance thank you letter
- sample united way campaign communications
- the commonwealth of massachusetts department of
Related searches
- non cash transactions accounting
- non cash transactions examples
- non cash transactions disclosure
- examples of accounting transactions recording
- intragovernmental transactions igt
- intragovernmental transactions guide appendix 10
- bank teller transactions training sheet
- accounting recording transactions in journal
- accounting transactions examples
- biochemical society transactions impact factor
- deloitte transactions and business
- accounting transactions pdf