Dollar General Corp. Files 10-K for Fiscal Year Ended Feb 2, 2024

TL;DR

<b>Dollar General Corp. has filed its annual 10-K report detailing its financial performance and operations for the fiscal year ending February 2, 2024.</b>

AI Summary

DOLLAR GENERAL CORP (DG) filed a Annual Report (10-K) with the SEC on March 25, 2024. Dollar General Corp. filed its 10-K report for the fiscal year ended February 2, 2024. The filing covers the period from February 3, 2023, to February 2, 2024. The company's fiscal year end is February 2nd. Dollar General Corp. is classified under the SIC code 5331 for Retail-Variety Stores. The company's principal business address is 100 Mission Ridge, Goodlettsville, TN 37072.

Why It Matters

For investors and stakeholders tracking DOLLAR GENERAL CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Dollar General's financial health, operational strategies, and risk factors for investors and stakeholders. Understanding the details within this report is crucial for assessing the company's performance, competitive positioning, and future outlook in the retail sector.

Risk Assessment

Risk Level: medium — DOLLAR GENERAL CORP shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine disclosure for a public company, but the retail sector faces ongoing economic and competitive pressures that could impact performance.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Dollar General's performance and strategic direction.

Key Numbers

• 20240202 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20230203 — Previous Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240325 — Filing Date (FILED AS OF DATE)
• 5331 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• DOLLAR GENERAL CORP (company) — FILER
• 20240202 (date) — CONFORMED PERIOD OF REPORT
• 20240325 (date) — FILED AS OF DATE
• 0000029534 (company) — CENTRAL INDEX KEY
• 5331 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• TN (location) — STATE OF INCORPORATION
• 6158554000 (phone) — BUSINESS PHONE
• 100 Mission Ridge (address) — BUSINESS ADDRESS STREET 1

FAQ

Industry Context

Dollar General operates in the variety stores retail sector, characterized by offering a wide range of low-priced merchandise.

Regulatory Implications

As a publicly traded company, Dollar General is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the revenue and profitability trends presented in the 10-K.
2. Assess the company's balance sheet and cash flow statements for financial health.
3. Review management's discussion and analysis for strategic insights and forward-looking statements.

Key Dates

• 2024-02-02: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-25: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted for the 10-K report for the fiscal year ended February 2, 2024. Comparative data from the previous year will be available within the full report.

Key Financial Figures

• $0.875 — ch registered Common Stock, par value $0.875 per share DG New York Stock Exchang
• $167.77 — k as reported on the NYSE on such date ($167.77). For this purpose, directors, executiv
• $10 — ducts at everyday low prices (typically $10 or less) in our convenient small-box lo

Filing Documents

• dg-20240202x10k.htm (10-K) — 2406KB
• dg-20240202xex10d9.htm (EX-10.9) — 133KB
• dg-20240202xex10d16.htm (EX-10.16) — 127KB
• dg-20240202xex10d20.htm (EX-10.20) — 158KB
• dg-20240202xex10d23.htm (EX-10.23) — 105KB
• dg-20240202xex10d40.htm (EX-10.40) — 34KB
• dg-20240202xex10d51.htm (EX-10.51) — 23KB
• dg-20240202xex21.htm (EX-21) — 51KB
• dg-20240202xex23.htm (EX-23) — 8KB
• dg-20240202xex31.htm (EX-31) — 16KB
• dg-20240202xex32.htm (EX-32) — 9KB
• dg-20240202xex97.htm (EX-97) — 38KB
• dg-20240202xex10d40001.jpg (GRAPHIC) — 28KB
• 0001558370-24-003813.txt (&nbsp;) — 10110KB
• dg-20240202.xsd (EX-101.SCH) — 46KB
• dg-20240202_cal.xml (EX-101.CAL) — 73KB
• dg-20240202_def.xml (EX-101.DEF) — 193KB
• dg-20240202_lab.xml (EX-101.LAB) — 542KB
• dg-20240202_pre.xml (EX-101.PRE) — 379KB
• dg-20240202x10k_htm.xml (XML) — 1670KB

BUSINESS

ITEM 1. BUSINESS 5

RISK FACTORS

ITEM 1A. RISK FACTORS 11

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 21

CYBERSECURITY

ITEM 1C. CYBERSECURITY 21

PROPERTIES

ITEM 2. PROPERTIES 23

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 23

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 24 INFORMATION ABOUT OUR EXECUTIVE OFFICERS 24 PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 26

[RESERVED]

ITEM 6. [RESERVED] 26

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 27

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 41

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 42 Report of Ernst & Young, LLP, Independent Registered Public Accounting Firm (PCAOB ID: 42 ) 42 Consolidated Balance Sheets 44 Consolidated Statements of Income 45 Consolidated Statements of Comprehensive Income 46 Consolidated Statements of Shareholders' Equity 47 Consolidated Statements of Cash Flows 48

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 49

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 68

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 68 Report of Independent Registered Public Accounting Firm 69

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 70

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 70 PART III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 71

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 71

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 72

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 72

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 72 PART IV

EXHIBIT AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULES 73

FORM 10-K SUMMARY

ITEM 16. FORM 10-K SUMMARY 81

SIGNATURES

SIGNATURES 82 2 Table of Contents INTRODUCTION General This report contains references to years 2024, 2023, 2022, and 2021, which represent fiscal years ending or ended January 31, 2025, February 2, 2024, February 3, 2023 and January 28, 2022, respectively. Our fiscal year ends on the Friday closest to January 31. Our 2022 fiscal year consisted of 53 weeks, while each of the remaining years listed consists of 52 weeks. All of the discussion and analysis in this report should be read with, and is qualified in its entirety by, the Consolidated Financial Statements and related notes. Solely for convenience, our trademarks and tradenames may appear in this report without the or TM symbol which is not intended to indicate that we will not assert, to the fullest extent under applicable law, our rights or the right to these trademarks and tradenames. Cautionary Disclosure Regarding Forward-Looking Statements We include "forward-looking statements" within the meaning of the federal securities laws throughout this report, particularly under the headings "Business," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Note 7 – Commitments and Contingencies," among others. You can identify these statements because they are not limited to historical fact or they use words such as "may," "will," "should," "could," "can," "would," "believe," "anticipate," "project," "plan," "expect," "estimate," "goal," "seek," "ensure," "potential," "opportunity," "intend," "predict," "committed," "likely," "continue," "strive," "aim," "scheduled," "focused on," "long-term," "future," "over time," "ongoing," "uncertain," "moving forward," or "subject to" and similar expressions that concern our strategies, plans, initiatives, intentions or beliefs about future occurrences or results or other future matters. For example, all statements relating to, among others, the following are forward-looking statements: our projections and expectatio

BUSINESS

ITEM 1.BUSINESS General We are the largest discount retailer in the United States by number of stores, with 20,022 stores located in 48 U.S. states and Mexico as of March 1, 2024, with the greatest concentration of stores in the southern, southwestern, midwestern and eastern United States. Our first stores in Mexico opened in 2023. We offer a broad selection of merchandise, including consumable items, seasonal items, home products and apparel. Our merchandise includes national brands from leading manufacturers, as well as our own private brand selections with prices at substantial discounts to national brands. We offer our customers these national brand and private brand products at everyday low prices (typically $10 or less) in our convenient small-box locations. Our History J.L. Turner founded our Company in 1939 as J.L. Turner and Son, Wholesale. We were incorporated as a Kentucky corporation under the name J.L. Turner & Son, Inc. in 1955, when we opened our first Dollar General store. We changed our name to Dollar General Corporation in 1968 and reincorporated in 1998 as a Tennessee corporation. Our common stock was publicly traded from 1968 until July 2007, when we merged with an entity controlled by investment funds affiliated with Kohlberg Kravis Roberts & Co. L.P., or KKR. In November 2009 our common stock again became publicly traded on the New York Stock Exchange under the symbol "DG", and in December 2013 the entity controlled by investment funds affiliated with KKR sold its remaining shares of our common stock. Our Business Model Our long history of profitable growth is founded on a commitment to a relatively simple business model: providing a broad base of customers with their basic everyday and household needs, supplemented with a variety of general merchandise items, at everyday low prices in conveniently located, small-box stores. We continually evaluate the needs and demands of our customers and modify our merchandise selections and prici

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View this 10-K filing on SEC EDGAR