Dollar General Corp said Chief Executive Rick Dreiling would retire next year after about seven years at the helm, sending the discount retailer's shares down 7 percent.The company, which has been battling to restore its margins in the face of stiff competition from retail giants such as Wal-Mart Stores Inc, reported lower-than-expected first-quarter profit and sales earlier this month.Dreiling, 60, has been CEO since January 2008 and chairman since December the same year.He will continue as chairman during a transition period following the appointment of a new CEO, the company said on Friday.
Dollar General Corporation is a discount retailer in the United States by number of stores, with 9,961 stores located in 39 states as of March 2, 2012, primarily in the southern, southwestern, midwestern and eastern United States. Shares of DG fell by 7.1% or $-4.38/share to $57.30. In the past year, the shares have traded as low as $50.43 and as high as $65.99. On average, 4470170 shares of DG exchange hands on a given day and today's volume is recorded at 9815786.
Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT traded higher by 0.13% or $0.095/share to $75.00. In the past year, the shares have traded as low as $71.51 and as high as $81.37. On average, 5867960 shares of WMT exchange hands on a given day and today's volume is recorded at 1216157.
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