RTTNews | May 27, 2021 05:38PM EDT

17:37 Thursday, May 27, 2021 (RTTNews.com) - Tennessee-based retail giant Dollar General (DG), Thursday announced plans to open another 1050 stores in new locations.

The company also plans to remodel 1750 existing outlets and relocate 100 of its stores in the coming days. The company has 17000 stores in the US where they are within a 5-mile distance from 75% of the US citizens.

Speaking about their performance, Todd Vasos, the CEO of the company said, "During the first quarter, we executed more than 800 real estate projects, including new store openings in our pOpshelf and larger footprint Dollar General formats. In addition, we remained focused on serving our customers, while further advancing our key strategic initiatives."

For the first quarter, the company reported a net income of $677.7 million or $2.82 per share, up from $650.4 million or $2.56 per share in the prior quarter. Net sales for the quarter edged down 0.6 percent to $8.40 billion from $8.45 billion in the same quarter last year.

The company also revised its outlook for 2021. The company now projects earnings in a range of $9.50 to $10.20 per share on net sales change between a decline of 1 percent and 1 percent growth, with a same-store sales decline in the 3 to 5 percent range.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.58 per share on net sales growth of 0.5 percent to $33.91 billion for the year.

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