疫情居然讓這家零售店獲益，這是怎么回事？
PHIL WAHBA
2020-03-18
眼下，市場動蕩不安，人們對新冠疫情沖擊美國經濟的擔憂也與日俱增。但達樂公司卻表示，疫情爆發影響了人們的社交，這一點卻有助于該公司業務增長。
上周四，這家坐擁美國城鄉16278家門店的連鎖折扣公司公布了其連續30年的可比銷售額增長報告。并對2020年營收做出了樂觀預測。過去幾年里，達樂每年新增約1000家門店。該公司2019年收入為278億美元，他們預計2020年的凈銷售額將增長7.5% - 8%。刨除最近新開或關閉的門店外，可比銷售額有望增長2.5% - 3%。
與此同時，出于對新冠疫情及應對措施對消費影響的擔憂，標普500指數在下午的交易中下跌8%。
但達樂高管對華爾街方面表示，由于旗下小門店多分布在距消費者較近的位置，因此對那些希望少開車、不想去擁擠大型商場的人群就很有吸引力。該公司首席執行官托德·瓦索斯對那些正與疫情抗爭的人表示同情，并表示，75%的美國家庭附近7英里內都能找到達樂的店。在門店選址上靠近消費者，利用有限貨架提供盡可能豐富、廉價的商品，一直是這家連鎖企業的經營秘訣。
據研究公司Kantar 2019年數據，達樂約57%的顧客家庭年收入低于4.99萬美元，30%低于2.5萬美元。
瓦索斯稱：“大家都不想去大賣場，我們就是你家門口的便利店。”并預測，在此次疫情期及其后可能出現的經濟放緩背景下，達樂將從這類消費者處獲取應有的市場份額。
倘若事態的發展真如瓦索斯所言，我們將再次看到2008年經濟大衰退期，及其后一段時間的消費者反應：人們紛紛在折扣店尋找低價商品，為了省油而選擇就近購物。達樂公司正是在那段時期搶走了沃爾瑪的市場份額，成為最大贏家。過去10年，達樂門店數量幾乎翻倍，市場份額基本保持增長，并成為發展最快的零售商之一。
雖然眼下處于供應鏈緊張時期，但達樂高管仍表示，無需對庫存方面存有擔憂。瓦索斯承認，部分來自中國的商品有可能出現到貨延遲問題，不過達樂還有多條供貨渠道可以緩解這一問題。
盡管經濟上存在諸多不確定因素，達樂首席財務官約翰·加拉特仍認為，疫情不會對公司業務或2020財年的業績造成實質性影響。相反，達樂的競爭對手沃爾瑪和塔吉特尚未對疫情帶來的潛在影響進行量化評估，但承認受到影響的可能性很大。
對疫情的恐懼已促使很多消費者開始囤積清潔用品、食品及其他生活必需品。因此，不少像達樂一樣銷售食品和日用品的零售商本月銷量都有所增加：好事多門店遭到哄搶；塔吉特首席執行官布賴恩·康奈爾也表示，上周店里出現了一些“瘋狂搶購”的行為。
但加拉特提醒分析人士，不要高估眼下客流量為達樂帶來的利益。并指出，其中部分增長只是提前銷售而已。“與大部分囤積行為一樣，事情總有不好的一面，”他說。（財富中文網）
譯者：胡萌琦
眼下，市場動蕩不安，人們對新冠疫情沖擊美國經濟的擔憂也與日俱增。但達樂公司卻表示，疫情爆發影響了人們的社交，這一點卻有助于該公司業務增長。
上周四，這家坐擁美國城鄉16278家門店的連鎖折扣公司公布了其連續30年的可比銷售額增長報告。并對2020年營收做出了樂觀預測。過去幾年里，達樂每年新增約1000家門店。該公司2019年收入為278億美元，他們預計2020年的凈銷售額將增長7.5% - 8%。刨除最近新開或關閉的門店外，可比銷售額有望增長2.5% - 3%。
與此同時，出于對新冠疫情及應對措施對消費影響的擔憂，標普500指數在下午的交易中下跌8%。
但達樂高管對華爾街方面表示，由于旗下小門店多分布在距消費者較近的位置，因此對那些希望少開車、不想去擁擠大型商場的人群就很有吸引力。該公司首席執行官托德·瓦索斯對那些正與疫情抗爭的人表示同情，并表示，75%的美國家庭附近7英里內都能找到達樂的店。在門店選址上靠近消費者，利用有限貨架提供盡可能豐富、廉價的商品，一直是這家連鎖企業的經營秘訣。
據研究公司Kantar 2019年數據，達樂約57%的顧客家庭年收入低于4.99萬美元，30%低于2.5萬美元。
瓦索斯稱：“大家都不想去大賣場，我們就是你家門口的便利店。”并預測，在此次疫情期及其后可能出現的經濟放緩背景下，達樂將從這類消費者處獲取應有的市場份額。
倘若事態的發展真如瓦索斯所言，我們將再次看到2008年經濟大衰退期，及其后一段時間的消費者反應：人們紛紛在折扣店尋找低價商品，為了省油而選擇就近購物。達樂公司正是在那段時期搶走了沃爾瑪的市場份額，成為最大贏家。過去10年，達樂門店數量幾乎翻倍，市場份額基本保持增長，并成為發展最快的零售商之一。
雖然眼下處于供應鏈緊張時期，但達樂高管仍表示，無需對庫存方面存有擔憂。瓦索斯承認，部分來自中國的商品有可能出現到貨延遲問題，不過達樂還有多條供貨渠道可以緩解這一問題。
盡管經濟上存在諸多不確定因素，達樂首席財務官約翰·加拉特仍認為，疫情不會對公司業務或2020財年的業績造成實質性影響。相反，達樂的競爭對手沃爾瑪和塔吉特尚未對疫情帶來的潛在影響進行量化評估，但承認受到影響的可能性很大。
對疫情的恐懼已促使很多消費者開始囤積清潔用品、食品及其他生活必需品。因此，不少像達樂一樣銷售食品和日用品的零售商本月銷量都有所增加：好事多門店遭到哄搶；塔吉特首席執行官布賴恩·康奈爾也表示，上周店里出現了一些“瘋狂搶購”的行為。
但加拉特提醒分析人士，不要高估眼下客流量為達樂帶來的利益。并指出，其中部分增長只是提前銷售而已。“與大部分囤積行為一樣，事情總有不好的一面，”他說。（財富中文網）
譯者：胡萌琦
On a day of market turmoil thanks to growing anxiety about the impact of the coronavirus on the U.S. economy, Dollar General says the push for social distancing during the outbreak will likely boost its business.
The discount chain, with 16,278 stores in rural and suburban America, on Thursday reported its 30th straight year of comparable sales growth, and gave a bullish revenue forecast for 2020. Dollar General has added about 1,000 stores annually over the last few years. The company, which took in revenue of $27.8 billion in 2019, expects net sales growth of 7.5% to 8% in 2020, as well as an increase of 2.5% to 3% for comparable sales, which exclude new or recently closed stores.
Meanwhile, in afternoon trading, the S&P 500 was down 8% on fears of what the coronavirus, and the efforts to contain it, would do to consumer spending.
But Dollar General executives told Wall Street that the proximity of its small stores (typically 7,000-square-feet in size) to many shoppers, would be attractive for those looking to drive less and practice social distancing by avoiding large, crowded stores. CEO Todd Vasos, who expressed sympathy for people grappling with the outbreak, said that 75% of Americans live within seven miles of a Dollar General. The chain's secret sauce has long been to situate small stores close to shoppers and stock the shelves with a wide array of products in a limited number of sizes, all at very low prices.
Some 57% of Dollar General’s clientele live in households with income of less than $49,900, according to 2019 data from research firm Kantar, and 30% get by on less than $25,000.
"We're a small box shop close to your home," Vasos said. "They just don't want to travel to the big box [stores]," he added, predicting that "we'll get our fair share" of spending from such customers during this crisis and beyond if the economy slows.
If that plays out, it would be a repeat of consumers' reactions both during and right after 2008's Great Recession when people sought out the very low prices of dollar stores, and shopped closer to home to save on gas. Dollar General was one of that period's big winners, stealing market share from Walmart. While just about doubling its store count in the last decade, Dollar General has held on to much of those market share gains, remaining one of the fastest growing retailers.
Executives downplayed concerns about remaining fully stocked in a time of strain on its supply chain. Vasos allowed that there could be delays on some items originating in China but said Dollar General has a diversified set of vendors that mitigate the issue.
Despite all the uncertainty still swirling around the economy, Dollar General's finance chief John Garratt said he did not expect the pandemic to have a "material impact on our business or fiscal 2020 financial results." Competitors such as Walmart and Target have not quantified the potential impact of their business but allowed there is likely to be one.
Still, many retailers like Dollar General that sell staples and essentials have seen an increase in business this month with consumers buying up cleaning products, food, and other essentials. Costco stores have been mobbed, and Target's chief executive Brian Cornell said last week there had been some "aggressive shopping" at some of his stores.
Still, Garratt cautioned analysts against seeing too much of a boon in such visits to Dollar General, suggesting some of it is just sales being brought forward. "Like most stock-ups, there's always a backside to this," he said.
