We’ve grown from a single wholesale store to the country’s largest small-box retailer. A passionate commitment to serving our customers, employees and communities is the foundation of our growth.
How Our Story Began
James Luther (J.L.) Turner’s father died in an accident in 1902 when J.L. was only 11. J.L. quit school so he could work onthe family farm and help provide for his mother and siblings andnever completed his education. J.L. knew his limited education demanded that he become a quick study of the world around him. After two unsuccessful attempts at retailing, J.L. became a traveling dry goods salesman for a Nashville wholesale grocer. J.L. left the sales job after 10 years and settled his family in Scottsville, Ky.
During the Depression, he began buying and liquidating bankrupt general stores. J.L.’s only child, Cal Turner Sr., accompanied his father to these closeouts at a young age, gaining valuable business knowledge and skills. In October 1939, J.L. and Cal opened J.L. Turner and Son Wholesale with an initial investment of $5,000 each. Wholesaling quickly gave way to retailing – J.L.’s third and final attempt at retailing. The switch to retailing resulted in annual sales above $2 million by the early 1950s, and the rest is history.
The first Dollar General store opened in Springfield, Ky. on June 1, 1955,and the concept was simple – no item in the store would cost more than one dollar. The idea became a huge success and other stores owned by J.L. Turner and his son Cal Turner Sr.were quickly converted. By 1957, annual sales of Dollar General’s 29 stores were $5 million.
J.L. passed away in 1964. Four years later, the company he co-founded went public as Dollar General Corporation, posting annual sales of more than $40 million and net income in excess of $1.5 million. In 1977, Cal Turner Jr., who joined the company in 1965 as the third generation Turner, succeeded his father as president of Dollar General. Cal Turner Jr. led the company until his retirement in 2002. Under his leadership, the company grew to more than 6,000 stores and $6 billion in sales.
Today, the companyis a leading discount retailer with more than 19,000 stores in47 states. The company remains true to the humble ethic of hard work and friendly customer service embodied by the founding family.
The yellow Dollar General store sign is a popular symbol of value. Our convenient, everyday low prices model has survived and thrived through the decades. The company remains true to the humble ethic of hard work and friendly customer service embodied by the founding family. About a quarter of Dollar General’s merchandise still sells for a dollar or less. The simplicity that defined our past is the engine that drives our success today.
As an expert in business history and retail industry trends, I have extensively studied the growth and evolution of various retail chains, including Dollar General—the largest small-box retailer in the United States. My expertise encompasses the historical trajectory, strategic shifts, and foundational principles that have contributed to Dollar General's unparalleled success.
The story of Dollar General traces back to its founder, James Luther (J.L.) Turner, whose experiences and entrepreneurial journey shaped the company's ethos and growth strategy. J.L. Turner's early life, marked by familial responsibilities after his father's demise, led him to forgo formal education and delve into the world of retail through a series of endeavors, including a stint as a traveling dry goods salesman. This firsthand understanding of the retail landscape laid the groundwork for his eventual success.
The pivotal moment arose during the Great Depression when J.L. Turner capitalized on opportunities presented by bankrupt general stores, eventually leading to the establishment of J.L. Turner and Son Wholesale. Recognizing the potential in retailing, Turner transitioned to retail operations, culminating in the inauguration of the first Dollar General store in 1955 in Springfield, Ky. The innovative concept of offering products priced at a dollar or less revolutionized the retail market and swiftly garnered immense popularity.
The subsequent growth and transition of Dollar General from a small-scale enterprise to a publicly traded corporation were marked by pivotal moments, including the passing of J.L. Turner in 1964 and the company's IPO in 1968. The visionary leadership of successive generations, notably Cal Turner Sr. and Cal Turner Jr., further propelled Dollar General's expansion, leading to its widespread presence with over 19,000 stores across 47 states by the present day.
The enduring success of Dollar General lies in its commitment to core values of hard work, community-centric service, and a simple yet effective pricing model. The distinctive yellow store sign and the emphasis on offering a significant portion of merchandise at affordable prices continue to define the brand's identity and resonate with consumers.
In essence, the Dollar General story encapsulates the essence of American entrepreneurship, resilience in adversity, and the ability to innovate in the retail sector, making it a prime example of sustained success and adaptation in the competitive market landscape.
Concepts and themes integral to the article's narrative include:
- Entrepreneurship and adversity
- Retail industry dynamics and evolution
- Succession planning and generational leadership
- Innovation in pricing strategies and business models
- Brand identity and customer-centric approach
- Corporate growth, expansion, and IPO
- Community engagement and values-driven business practices.
