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RELATED: Dollar General Opens Nebraska 'Dual' Distribution Center
\r\n\r\nDuring Vasos’ seven years as CEO, he led the company through a period of significant transformation, accelerated growth and innovation. Under his leadership, Dollar General expanded its store base by approximately 7,000 stores, added nearly 60,000 net new jobs, increased annual sales revenue by more than 80%, and more than doubled its market capitalization to approximately $58 billion.
\r\n\r\n“I am honored to be rejoining Dollar General at this pivotal time for our Company,” said Vasos. “I look forward to getting back to work with the broader team as we strive to return to a position of operational excellence for our employees and customers and deliver sustainable long-term growth and value creation for our shareholders.”
\r\n\r\nVasos joined Dollar General in 2008 as executive vice president, division president and chief merchandising officer and was promoted to chief operating officer in 2013. He was named CEO and joined the Company’s Board in June 2015.
\r\n\r\nAdditionally, the retailer also updated financial guidance for the remainder of its fiscal year. The company now expects net sales growth in the range of 1.5% to 2.5%, compared to its previous expectation of 1.3% to 3.3%; both of which include an anticipated negative impact of approximately two percentage points due to lapping the fiscal 2022 53rd week. Same-store sales growth in the range of a decline of approximately 1.0% to 0.0% is expected, compared to its previous expectation of a decline of approximately 1.0% to growth of 1.0%.
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