Earlier, the company posted fourth-quarter earnings that missed estimates and forecast same-store sales would decline 4% to 6% in the coming fiscal year against the unusually high sales levels caused by the pandemic. They were down by less than 5% on Thursday afternoon. Shares of the company have risen about 21% over the past year, as of Wednesday's close. "If it works - and we believe it will - there could be some additional ones that we do in 2022 and many more as we continue to move forward," he said. The tests will focus on areas where customer demographics are somewhere between those of Dollar General and Popshelf - with a $50,000 to $75,000 household income range, Vasos said. Inside, Popshelf will be prominently featured in the center as a store-in-store, he said. At 25 stores, customers will see signs for both labels at the entrance. Owen said the Popshelf stores offer "a fun, affordable and differentiated treasure hunt experience delivered through continually refreshed merchandise." He said the company wants to expand from its current five stores faster than it planned because of results it saw.ĭollar General will kick off a pilot that blends together its namesake brand and Popshelf, he said. Its target customer has an annual household income ranging from $50,000 to $125,000 - higher than the $35,000 to $40,000 annual household income of a typical Dollar General customer, according to the company. Popshelf sells home decor, beauty items, cleaning supplies and party goods, with almost all items costing $5 or less. The retailer opened the first two Popshelf stores in the fall near Nashville, Tennessee. Popshelf’s target customers are women who live in suburban areas and have an annual household income that ranges from 50,000 to 125,000, CNBC reported last year. "Overall, our real estate pipeline remains robust and we are excited about the significant new store opportunities ahead," he said. He said the retailer can boost profits by growing its footprint, selling more non-consumable items that have higher margins than food and appealing to a broader range of customers.Ĭhief Operating Officer Jeff Owen said the retailer estimates it could add as many as 17,000 stores across the country - a move that would roughly double its footprint. On a Thursday earnings call, Dollar General CEO Todd Vasos made the case why investors should continue to bet on the company. In recent months, however, shares of pandemic beneficiaries - including Dollar General - have fallen as investors bet that Americans will divert their dollars toward dining out and traveling once they get vaccinated. Its same-store sales rose by 16.3% in the fiscal year. Sales of grocery staples and household essentials helped drive Dollar General's sales growth throughout the pandemic as consumers cooked more at home and watched their budget during a period of economic uncertainty.
The company is testing both new locations and using the brand to create a store within a store. Home How Funko Makes Its Pop Figures Forbes Share Funko Pop Welcome to the Pop Shelf Shop Now Featured Products Plush Toy Withered Purple Bunny Fan Made Plush Teddy Bear Bonnie Plush, Game Toy Gift Animal plushie, for Kids, boy, Girl 11 141.27 Buy in monthly payments with Affirm on orders over 50.
They'll also notice more branding for Popshelf, which the retailer debuted in the fall. Sign up for our Weekly Headlines Newsletter.As it builds new stores, shoppers will see larger sales floors and more merchandise. Stay on top of San Antonio news and views. San Antonio’s first pOpshelf is located at 4351 Thousand Oaks Drive. The new store at The Rim will be at 17822 La Cantera Parkway, Suite 114. Texas’ first locations opened earlier this year in San Antonio and in McKinney. Last December, Dollar General announced plans to open 100 pOpshelf stores in 2022. The pOpshelf concept, developed by Tennessee-based Dollar General, offers seasonal and home décor, health and beauty products, home cleaning supplies and party goods, the majority priced at $5 or less. The chain plans a $220,000 revamp to an existing space at The Rim shopping center that will start in July and wrap up in September. The discount home goods chain soon will have a second San Antonio location in the works, according to a Texas Department of Licensing and Regulation filing. Retail concept pOpshelf is popping off in the Alamo City. Local mom blogger Ruby Frias and her daughters visit San Antonio's pOpshelf store.
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