Dollar General sees FY24 CapEx $1.3B-$1.4B

In order to better optimize the planned capital expenditures for fiscal year 2024 and to expand the investment in mature stores, the company is increasing the number of store remodels and reducing the number of expected new store openings, resulting in an overall net increase in the number of total expected real estate projects for the year. The company now expects to execute 2,435 real estate projects, including 730 new store openings, 1,620 remodels, and 85 store relocations, which compares to its previous expectation of 2,385 real estate projects in fiscal 2024, including 800 new store openings, 1,500 remodels, and 85 store relocations. “While it is still early in our fiscal year, we are encouraged by our first quarter financial results,” said Kelly Dilts, Dollar General’s CFO. “Although we are experiencing shrink and sales mix headwinds that are greater than we had initially anticipated coming into the year, we are working to mitigate the impact of these challenges and are reiterating our full-year financial guidance as we remain focused on our goal of delivering consistent, strong financial performance.”