Dallas, Texas 11/08/2013 (Financialstrend) – The S&P 500 index tracked Dollar General Corp. (NYSE:DG) new COO will have his hands full in making sure his firm is operationally well placed to repulse the renewed surge in competition from the likes of Wal-Mart and other big retailers. The retailer which popularized the every day is a discount day strategy decided to promote Todd Vasos to the role of Chief Operating Officer from his current role of Chief Marketing Officer in the group. He has been mandated with overall responsibility of “Store Operations, Merchandising and Supply Chain”. If Dollar Store has to successfully defend its pole position in the highly competitive retailer market which is driven by customers looking for lowest price, Todd will have to continue to evolve and tighten the firm’s operational efficiencies in order to remain profitable and offer lower priced options to its customers.
The firm with its close to 11,000 stores which are spread across 40 states in U.S has been involved in a proverbial hand to hand slug fest with the likes of Wall Mart to retain its target customer base which is looking for bargain pricing on their daily and weekly purchases. The task ahead of the new COO is clear cut as sales have been slowing down past couple of weeks.
The International Council of Shopping Centres which tracks and customer and business sentiment on a weekly and monthly basis has said in its latest report pertaining to retail sales in U.S that the sales have come down by 0.6% last week in comparison to 0.4% the previous week. This comes as troubling news to retailers which traditionally manage to post close to 40% of their annual sales during the extended holiday season starting from Thanksgiving. The report has seen this weakness across the key players like Family Dollar and DLTR including Dollar Store.