Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee. As of July 2018, Dollar General operates 15,000 stores in the continental United States.
The company began in 1939 as a family-owned business called J.L. Turner and Son in Scottsville, Kentucky, owned by James Luther Turner and Cal Turner. In 1955, the name changed to Dollar General Corporation and in 1968 the company went public on the New York Stock Exchange. Fortune 500 recognized Dollar General in 1999 and in 2018 reached #123.Dollar General has grown to become one of the most profitable stores in the rural United States with revenue reaching around $21 billion in 2017.
- Formerly - J.L. Turner and Son
- Type - Public
- Traded as -NYSE: DG S&P 500 Component
- ISIN - US2566771059 Edit this on Wikidata
- Industry Discount retailer
- Founded 1939; 81 years ago (as J.L. Turner and Son)
- 1968; 52 years ago (as Dollar General Corporation)
- Founders James Luther Turner, Cal Turner
- Headquarters - 100 Mission Ridge, Goodlettsville, Tennessee, U.S.
- Number of locations - 15,472 stores as of March 2019
- Areas served - Contiguous United States (except for the Northwest)
- Key people - Michael M. Calbert (Chairman)
Michael M. Calbert (Chairman)
Todd Vasos (CEO)
John W. Garratt (CFO)
Products - Clothing, cleaning supplies, home decor, health & beauty aids, pet supplies, toys, seasonal items, and grocery.
Revenue Increase$25.6 billion (2018)
Increase$1.940 billion (2015)
Increase$1.165 billion (2015)
Total assets Increase$11.258 billion (2015)
Number of employees
Dollar General has its origin in Scottsville, Kentucky, with James Luther "J.L." Turner and his son Cal Turner. James Turner's father died in an accident in 1902 when James was only 11. James had to quit school and never completed his education so he could work the family farm and help provide for his mother and siblings. After two unsuccessful attempts at retailing, James became a traveling dry goods salesman for a Nashville wholesale grocer. James left the sales job after 10 years and settled his family in Scottsville, Kentucky. During the Great Depression, he began buying and liquidating bankrupt general stores. James' only child Cal Turner accompanied his father to these closeouts at a young age, gaining valuable business knowledge and skills.
In October 1939, James and Cal opened J.L. Turner and Son with an initial investment of $5,000 each. The switch to retailing resulted in annual sales above $2 million by the early 1950s. By the mid-1950s Turner had 35 department stores in Kentucky and Tennessee. In 1955 Cal Turner developed his idea of a retail store selling goods for a dollar, based on the Dollar Days promotions held at other department stores, by converting Turner's Department Store in Springfield, Kentucky into the first Dollar General Store. In 1964 J.L. Turner died leaving his son Cal Turner to succeed him.