(Filed Under Financial and General Interest News). Dollar General, a discount retailer and competitor of Wal-Mart with approximately 8,700 stores nationwide, is set to go public on Friday, November 13th, when it is reportedly expected to trade on the New York Stock Exchange under the symbol DG.
According to a November 9th, 2009 The Wall Street Journal article, throughout the economic recession Dollar General’s number of stores, sales and profits have continued to rise; with sales growing 10 percent in 2008 and 13 percent during the first half of 2009, and same-store sales growing 9 percent and 11 percent for each respective period.
But despite the retailer's success, a November 7th article in Thomas Reuters expressed some caution over the results of the transaction. Reuters reported that the retailer could see mixed results of its sales, since the company plans to sell 34.1 million shares for between $21 and $23 per share, which is priced higher than shares for competitors Target Corp, Wal-Mart and Dollar Tree.
Dollar General’s stores are concentrated in the southern, southwestern, Midwestern and eastern United States regions. Discount items include intimates and other apparel.
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