Dollar General
26 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.
Customers
Low and fixed income households
earns fromnamed as a riskMany of our customers have fixed or low incomes and limited discretionary spending dollars.Risk factors (Item 1A)
Suppliers
Two largest suppliers (unnamed)
depends on · approximately 11% and 8%, respectively, of our purchases in 2025named as a riskIn 2025, our two largest suppliers accounted for approximately 11% and 8% respectively, of our purchases.Risk factors (Item 1A)
Also named by GM
Partners and platforms
DG Media Network
earns fromnamed as a riskThe success of DG Media Network, which is our platform for connecting brand partners with our customers to drive even greater value for each, further depends on our ability to successfully gather target customer audiences (which may, in turn, depend upon the success of our various digital initiatives) that deliver consistent, predictable and beneficial returns on advertising spending to generate interest and demand from our brand partners, as well as to properly handle and secure all sensitive customer data.Risk factors (Item 1A)
Other companies
Moody's
Baa2 to Baa3named as a riskIn 2025, Standard & Poor’s changed our outlook from “Negative” to “Stable,” and Moody’s changed our rating from Baa2 to Baa3 and our outlook from “Negative” to “Stable.”Risk factors (Item 1A)
Consumables
concentrated in · 82.0 %named as a riskWhile we saw slight improvement in our sales mix in 2025 as compared to the prior year, our sales mix remains heavily weighted towards consumables, and there is no guarantee that these initiatives will continue to improve our sales mix.Risk factors (Item 1A)
pOpshelf
45 pOpshelf storesnamed as a riskIn the first quarter of 2025, we closed 45 pOpshelf stores and converted an additional six to Dollar General stores, as well as incurred significant impairment charges, the majority of which relate to the pOpshelf stores.Risk factors (Item 1A)
2030 Senior Notes interest rate swaps (SOFR)
exposed to its price · $350.0 millionCurrently, we are counterparty to certain interest rate swaps with a total notional amount of $350.0 million entered into in June 2021.Market risk (Item 7A)
Christmas selling season
concentrated innamed as a riskOur most profitable sales mix generally occurs in the fourth quarter primarily because of sales of Christmas-related merchandise.Risk factors (Item 1A)
Competitors
Walmart
competes withOur primary direct competitors are Walmart, Family Dollar and Dollar Tree.Business (Item 1)
Also named by AIOT, BRK/B, CART, COST, DGX, EEFT, FDX, KDP and 6 more
Family Dollar
competes withOur primary direct competitors are Walmart, Family Dollar and Dollar Tree.Business (Item 1)
Dollar Tree
competes withOur primary direct competitors are Walmart, Family Dollar and Dollar Tree.Business (Item 1)
Places
Southern United States
concentrated in · 20,959 storesWe are the largest discount retailer in the United States by number of stores, with 20,959 stores located in 48 U.S. states and Mexico as of February 27, 2026, with the greatest concentration of stores in the southern, southwestern, midwestern and eastern United States.Business (Item 1)
Rural small towns
concentrated in · approximately 80% of our storesOur stores currently average approximately 7,500 square feet of selling space, and approximately 80% of our stores are located in towns of 20,000 or fewer people.Business (Item 1)
China
depends onnamed as a riskWhile we are working to diversify our sources of imported goods to include Southeast Asia, India, South America and Mexico, a substantial amount of our imported merchandise comes from China, and thus, a change in the Chinese leadership, the effects of pandemic outbreaks, economic and market conditions, internal economic stimulus actions, or currency or other policies, as well as trade and other relations between China and the United States and increases in costs of labor, could negatively impact our merchandise costs.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Mexico
operates innamed as a riskWe opened our first Mi Súper Dollar General stores in Mexico in 2023, in which we have further expanded in each subsequent year, and believe there is additional growth potential in Mexico in the years ahead.Business (Item 1)
Also named by AAP, AME, AMRC, ANET, AOS, ARES, AYI, AZO and 83 more
Hazards
Middle East conflict
exposed to its pricenamed as a riskThese events also could affect consumer sentiment or shopping patterns or prevent customers from reaching our stores, which could lead to lost sales and higher markdowns, or result in increases in fuel or other energy prices (including those related to the conflict in the Middle East), fuel shortage(s), new store or distribution center opening delays, the temporary lack of an adequate work force in a market, the temporary or long-term disruption of product availability in our stores, the temporary or long-term inability to obtain or access technology needed to effectively run our business, disruption of our utility services or information systems, and damage to our reputation.Risk factors (Item 1A)
Commodities and inputs
Diesel fuel
exposed to its pricenamed as a riskWe also use natural gas, diesel fuel, gasoline, electricity and plastics in our operations, all of which may face increased regulation relating to climate change or other environmental concerns.Risk factors (Item 1A)
Also named by ADM, BLDR, BTU, CAH, CHD, CHRW, COST, CP and 43 more
Food inflation (food at home)
exposed to its pricenamed as a riskIf food inflation (and in particular, “food at home,” which moderately accelerated in 2025) rapidly accelerates again, we may not be able to adjust prices sufficiently to offset the effect without negatively impacting customer demand or our overall gross margin.Risk factors (Item 1A)
Card interchange fees
exposed to its pricenamed as a riskFurther, we pay interchange and other processing fees related to our acceptance of debit and credit card payments, and these fee amounts could continue to increase over time, as a result of customers shifting their payments from cash to credit/debit card and/or our fee rates rising, thereby raising our operating costs.Risk factors (Item 1A)
Laws and programs
U.S. tariffs on imports (2025)
subject tonamed as a riskIn 2025, the U.S. administration imposed additional tariffs across many of our global trading partners, including China, the European Union, Canada, India, and various countries located in Southeast Asia.Risk factors (Item 1A)
Also named by AAP, ABT, ALLY, ATR, AZO, BBW, BWA, CMG and 19 more
Payment Card Industry Data Security Standards
subject tonamed as a riskBecause we accept debit and credit cards for payment, we are subject to industry data protection standards and protocols, such as the Payment Card Industry Data Security Standards, issued by the Payment Card Industry Security Standards Council.Risk factors (Item 1A)
Also named by BBY, CAVA, DLTR, FND, HD, JKHY, KR, LUV and 2 more
Supplemental Nutrition Assistance Program (SNAP)
earns fromnamed as a riskViolations of applicable laws and regulations or untimely or incomplete execution of a required product recall can result in significant penalties (including loss of licenses, eligibility to accept certain government benefits such as SNAP or significant fines), class action or other litigation, governmental investigation or action and reputational damage.Risk factors (Item 1A)
Also named by BJ, CPB, DLTR, KHC, MDLZ, MNST, MUSA, PEP and 1 more
Work Opportunity Tax Credit (WOTC)
subject tonamed as a riskThe WOTC expired at the end of the 2025 calendar year, and, if not renewed, the expiration is expected to have a significant negative impact on our future earnings per share.Risk factors (Item 1A)
Also named by EFX
Minimum wage laws
subject tonamed as a riskMany of our entry-level store employees are paid at rates in line with the applicable state minimum wage, and consequently, in certain situations, increases to such wage rates have increased our labor costs.Business (Item 1)
Also named by DRI
Food/nutrition assistance programs
earns fromnamed as a riskFactors that could reduce, and in many cases have reduced, our customers’ disposable income include but are not limited to high unemployment or underemployment levels or decline in real wages; inflation; pandemics; higher fuel and energy costs (including those related to the conflict in the Middle East); healthcare, housing and product costs; higher interest rates, consumer debt levels, and tax rates; lack of available credit; tax law changes that negatively affect credits and refunds; and decreases in, or elimination of, government assistance programs or subsidies such as unemployment and food/nutrition assistance programs (for example, changes to the work requirement minimum standards for qualification enacted in 2025, and beginning in January 2026, certain states’ exclusion of historically covered product categories), student loan repayment forgiveness, health insurance subsidies, and economic stimulus payments.Risk factors (Item 1A)
Local zoning moratoria on small box discount retail
subject tonamed as a riskOur ability to timely and profitably open, relocate and remodel stores and expand into additional market areas is a key component of our planned future growth and may depend in part on: the availability of suitable store locations and capital funding; the absence of entitlement process, permitting or occupancy delays, including zoning restrictions and moratoria on small box discount retail development such as those passed by certain local governments in areas where we operate or seek to operate; supply chain volatility resulting in delivery delays, and in some cases, lack of availability of store equipment, building materials, and store merchandise for resale; the ability to negotiate acceptable lease and development terms (for example, interest rates, real estate development requirements and cost of building materials and labor), to cost-effectively hire and train qualified new personnel, especially store managers, and to identify and accurately assess sufficient customer demand; and general economic conditions.Risk factors (Item 1A)