Dollar General (DG) Goldman Sachs Global Consumer and Retail Conference summary

Leadership transition and management priorities

• CEO transition planned for January 2027, with the outgoing CEO staying as senior advisor until April 1 to ensure smooth onboarding of the successor.

• Successor selected for deep operational experience and alignment with company values and strategy.

• Senior management team described as the strongest in years, supporting continuity of priorities.

• Board and management are fully aligned on strategic priorities, with digital and media initiatives highlighted as future growth drivers.

Consumer trends and demand environment

• All income cohorts are experiencing financial pressure, with even higher-income shoppers behaving more like lower-income consumers.

• Sustained inflation and high gas prices are causing customers to shop more frequently but purchase less per trip.

• Proximity to stores is a key advantage, as many customers shop closer to home to save on fuel.

• Retention of new customers is strong, aided by targeted marketing and value perception.

• Consumer resilience is supported by continued employment, but no structural improvement is expected in the near term.

Pricing, value, and promotional strategy

• Price gaps to mass, drug, and grocery channels remain stable, with a focus on balancing everyday value and promotional cadence.

• Over 2,000 items are offered at or below $1, with dedicated Value Valley aisles and expanded $1 frozen offerings.

• Seasonal $1 assortment increased by 40% for the back half of the year.

• Strong comps in the $1 price point, with 16% growth in Value Valley in Q2.