Dollar General is profiting from Walmart's failure
CNBC reports that Dollar General will upgrade 40 of its existing stores into the new locations. It will also open in one new market.
"Dollar General is excited to add these locations to our existing store base. We look forward to the opportunity to better serve our customers in these communities by continuing to provide the convenience and value," Dollar General CEO Todd Vasos s.
Walmart's Express stores are about 15,000 square feet — about 10% the size of the average Supercenter. They first opened in 2011 and were pitched as an easier way to shop for essentials.
But Walmart announced in January that it would close 102 of the Express stores.
Dollar stores have seen business steadily rise since the Recession. Many of these stores have made changes to compete, including offering higher-quality cosmetics and simple groceries like bread and milk.
Dollar General has started selling meat and poultry. It's also testing sales of fresh produce.
Walmart also made changes to compete with dollar stores in the post-Recession economy.
For instance, the retailer began selling single rolls of toilet paper for cash-strapped shoppers waiting on their next paycheck.
RELATED: 17 items you should always buy at the dollar store
- CrossFit is leading to a huge revival for a once-disappearing fitness brand
- Buffalo Wild Wings' new plan to crush Chipotle and Panera Bread is working
- A musician says Chipotle tried to pay him $250,000 to cover the Backstreet Boys — and his response is going viral