Dollar General Corporation is an American chain of department stores headquartered in Goodlettsville, Tennessee. Dollar General operates 16,278 stores as of January 2020 stores in the continental United States.
The business started in 1939 as a family business called JL Turner and Son in Scottsville, Kentucky, owned by James Luther Turner and Cal Turner. In 1955 the name was changed to Dollar General Corporation and in 1968 the company went public on the New York Stock Exchange. The Fortune 500 recognized the dollar of the year in 1999 and in 2020 it reached number 112, Dollar General became one of the most profitable stores in rural areas in the United States with revenues of around 27 billion dollars in 2019.
History Dollar General
Dollar General started in Scottsville, Kentucky, with James Luther “J.L.” Turner and son Cal Turner.. James Turner’s father died in an accident in 1902 when James was only eleven years old, and James had to drop out of school and never complete his education in order to be able to work on the family farm and help support his mother and his siblings. After two unsuccessful retail attempts, James became a street vendor of dry goods for a wholesale grocery store in Nashville. James left the sales position after 10 years and moved with his family to Scottsville, Kentucky. As a first step, he started buying and liquidating bankrupt general stores.. James’ only child, Cal Turner, accompanied his father to these talks at a young age and gained valuable business knowledge and skills.
In October 1939, James and Kall opened JL Turner and Son with an initial investment of $ 5,000 each. The shift to retail resulted in annual sales of over $ 2 million by the early 1950s. Range By the mid-1950s, Turner owned 35 department stores located in Kentucky and Tennessee locations. Then in 1955, Cal Turner developed a promotion with Dollar Days, which is selling one-dollar items, in his retail stores which are held in other department stores. by converting the Turner department store in Springfield, Ky., Into first general dollar store. In 1964, JL Turner passed away, leaving his son Cal Turner as his successor.
Dollar Generals, along with other dollar store chains, while the “sometimes need in cash-strapped societies” where supermarkets have closed, is not “just a byproduct of economic distress. It is a cause for that ”. Dollar store chains, “tapping into a series of powerful economic and social forces – the egg flight, the recent recession and the so-called” retail apocalypse “- have all opened up major loopholes in the industry. ‘access to food … inequalities in and of themselves. Seems to work to perpetuate it. “The rapid growth of dollar stores across the United States has led to the emergence of food deserts and of the “dollar store belt”. Initially opened with local tax incentives, a number of municipalities have added internal zoning bylaws to discourage dollar stores. Dollar stores tend to create fewer jobs and pay less than independent grocery stores, according to a study by the Institute for Local Self-Reliance. The report alleges that dollar stores stifle local competition and thus harm the communities they serve.
In March 2020, the retailer announced plans to expand its product line to nearly 400 stores in addition to the 650 stores already in place in fiscal 2020. In February 2019, the University of Nevada at Las Vegas published an article that found that the quality of fruits and vegetables in stores is in dollars, like regular groceries.Popular search : https://www weeklyadsnews com/622/history-dollar-general-corporation html