Dollar General will hire 6,000 for new stores

Discussion in 'Wall St. News' started by misterno, Jan 18, 2011.

  1. So what does this tell you?

    GOODLETTSVILLE, Tenn. (AP) -- Discount-store operator Dollar General Corp. said Monday it plans to open 625 new stores and hire more than 6,000 workers in 2011.

    The company said Monday the store openings will be in 35 states it currently operates in as well as in three new states: Connecticut, Nevada and New Hampshire. It also plans to remodel or relocate 550 stores.

    Dollar General, based in Goodlettsville, Tenn., currently operates 9,200 stores and employs 88,000 staffers.

    Its stores have gained market share from competitors such as Wal-Mart Stores Inc., as consumers count pennies because of high unemployment and the uncertain economy.

    In December Dollar General said its third-quarter net income rose 69 percent, helped by cost cuts and higher revenue, and the company raised its full-year guidance. Its revenue rose 10 percent to $3.22 billion.

    Its shares rose 12 cents to $30.78 in morning trading.
  2. Larson

    Larson Guest

    They (Dollar General) are serving a niche. Maybe Wal-Mart has seen their best days and the US is going back to the smaller chain. It would be welcome in my book.
  3. The company said Monday the store openings will be in 35 states it currently operates in as well as in three new states: Connecticut....

    I thought Conneticut was courting hedge funds.:cool:
  4. S2007S


    6000 more jobs!!!!!!!!

    Should we be so excited, lets break it down!!!!

    Out of the those 6000 positions how many will make more than $8-$9, about 95% of those hired will make no more than $10 an hour.

    The rest of the employees will be hired as managers and assistant managers which will have a salary paying maybe $32-$40k a year!!!

    You cant raise a family on $35k a year, by the time you squeeze out taxes, some contribution towards your 401k and paying a percentage of your own health benefits your coming home with about $425-$500 a week. How far can you go with $500 bucks a week in this ever inflated economy...Now were only talking about a few hundred of these positions available, all the rest of the 5500+ new employees will be coming with nothing more than $300 a week...

    Way to add more "great" paying jobs to the economy....
  5. It's the big grab back. You think any of the lost jobs come back at the same rate?

    The bargain stores are a tremendous phenomenon. Dollar Tree has a 40% margin. You can't mail a letter to China for a buck, yet they boat tons of crap here and make the mark. Amazing. And these guys hurt Walmart. Walmart has the overhead. And the crowds. I"ve shopped there at least 7 years that I know about. I love talking to the people. "Did you get that one thing you came for?" And it used to be all minorities, and a smattering of white folks. Now? Lincoln Navigators, sports cars, Lexus....... Oh yeah. Different world.

    But jobs and rates? This was a much needed correction to bring things back to reality. It's great to see the Unions pulled in, too. Too bad it had to be so painful. A little jail time for the mischief makers will soothe the hurt. But 6,000 ? It's a good thing all things considered.
  6. 625 new stores and hire more than 6,000 workers in 2011.


    This will probaly be 625 full time jobs the rest will be part timers @ 20 - 25 hrs a week. The full time jobs will be salary which should net out about the same wages as 3 part timers because no ot of salary employees.

    What an exercise in futlity. Renting a stupid space in a strip mall, fill it up with useless crap, selling nick knacks and candles to overwieght wall mart shoppers on their way home with a dollar in change.

    These people are going to die one day and their children are going to have to throw out these cherished dollar store heirlooms.
  7. siafx


    I enjoy buying certain things there.

    I actually bought a pen that was Made In USA. I almost couldn’t believe it. :D
  8. I have been in to a Dollar Tree store. I believe it is a different co than dollar brand but it is the same concept. I have popped in there to get stuff for camping. Like paper plates, paper towels, cheap salt and pepper shaker, cheap utensils etc for camping. They have them next to the supermarkets where I get my groceries. I went in the day before Turkey day as I needed a turkey baster. I think I bought a garlic press there once.
    Pretty much it is a lot of cheap chinese crap as far as utensils. AND I MEAN CHEAP chinese crap....even crappier than the crap you find at Walmart. The American made stuff is discontinued items which were pretty lousy in the first place. Lousy soap and detergent type products that don't even work well. Shit I think I bought some dish detergent which took like 1/4 of the bottle to wash some dishes. The crap didn't even soap up.

    As far as employment at these places I doubt part-time OR fulltime staff people will be making over $8 an hour.
    The store manager and assistant manager will be making below $30K.
    The assistant manager will be making low 20K's and the store manager will be making maybe 26-28K to start.

    The fact that they are doing well is simply a testament to how lousy our country is doing. When people are going to Dollar Stores over Wally world that tells you something about the economic condition of the average American shopper.
    Lol I had never been in to a Walmart till about three years ago for the first time. Horrible horrible place.....the shoppers there are disgusting white, black, hispanic, low income trash and human debris.

    Our country is going to hell.
  9. Dollar stores have tremendous profit margins because the cost of the actual goods they sell is negative or near negative... someone *pays them* to take it off of their hands.

    So ...some business has a bunch of crap that costs more to store than it is worth (either literally or in terms of occupied space)... the dollar guys take it away for free or at extremely low cost and outlet it in their stores.

    These guys are like the bacteria and bugs in a rain forest feeding on the dead organic material.
  10. Good post and good read on what it actually implies. Of course, we have a group of partisan idiots who spin these jobs as some symptom of recovery.

    It's basically a well organized flea market with down on their luck people picking up items at a reasonable discount. The jobs provided are something, I suppose, but it's all just another step forward in the race to the bottom.
    #10     Jan 19, 2011