Dollar General Head-Fakes Coronavirus: Plans to Add Even More Jobs

Retail

Published: March 23, 2020 8:45 am

While most businesses are laying off or furloughing employees, Dollar General Corp. (NYSE: DG) is going in the opposite direction. The brick-and-mortar dollar chain announced early Monday that it plans to hire up to 50,000 employees by the end of April.

While Dollar General currently anticipates the majority of these roles to be temporary, the company has a strong track record of career growth and anticipates providing long-term career growth opportunities to some of these new employees.

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In the past five years alone, Dollar General has added roughly 35,000 net new jobs to the American economy, growing its workforce from 105,000 employees in February 2015 to more than 143,000 current employees.

In terms of its footprint, Dollar General currently operates more than 16,300 stores in 45 states, and about 75% of the American population is within five miles of a Dollar General.

Kathy Reardon, Dollar General’s senior vice president and chief people officer, commented:

We are proud to serve as one of America’s essential retailers, and we believe our customers are relying on us now more than ever to provide an affordable, convenient retail option. The Dollar General family continues to do its part in helping our customers and neighbors during these unprecedented times. We invite individuals looking to start or grow a career, as well as for those whose job may be temporarily impacted by COVID-19, to apply for opportunities to help further our mission of Serving Others.

Dollar General stock closed Friday at $140.13, in a 52-week range of $116.15 to $167.44. The consensus price target is $171.50. Following the announcement, the stock was relatively flat at $139.80 in early trading indications Monday.

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