Photo: Charles Krupa / AP

Investors sent shares in Dollar General higher Thursday after the company announced better-than-expected sales growth and plans to open 900 stores in 2018.

Why it matters: Dollar General avoided the struggles of the broader retail industry by focusing on poor, rural communities overlooked by Walmart, which are home to customers living paycheck-to-paycheck with limited access to credit cards.

But the planned expansion is in part a bid to go after affluent shoppers. "We are encouraged by the early progress," Neil Saunders, managing director of GlobalData Retail, said in a research note to clients. "The company is capturing a more significant share of spending from middle income and more affluent Americans."

  • Dollar General credited its strong 4.3% same-store sales growth on its success bringing in these type of shoppers, who are able to spend more per visit.

Go deeper: How Dollar General became rural America's store of choice

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LeBron James on Trump NBA protest remarks: "We could care less"

The Los Angeles Lakers' LeBron James kneels during the national anthem before the game against the Oklahoma City Thunder in Lake Buena Vista, Florida, on Wednesday. Photo: Kevin C. Cox/Getty Images

LeBron James responded on Wednesday night to President Trump's comments calling NBA players "disgraceful" for kneeling during the national anthem to protest racism and that he won't watch games because of the action.

The big picture: Trump has repeatedly criticized sports players for taking the knee since 2016. But James said during a news conference, "I really don’t think the basketball community are sad about losing his viewership, him viewing the game." November's elections marked "a big moment for us as Americans," he said. "If we continue to talk about, 'We want better, we want change,' we have an opportunity to do that," he added. NBA Commissioner Adam Silver has said the league will "respect peaceful protest."

Go deeper: LeBron James forms voting rights group to inspire Black voters

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of midnight ET: 18,752,917 — Total deaths: 706,761— Total recoveries — 11,308,298Map.
  2. U.S.: Total confirmed cases as of midnight ET: 4,821,296 — Total deaths: 158,249 — Total recoveries: 1,577,851 — Total tests: 58,920,975Map.
  3. Public health: Florida surpasses 500,000 confirmed casesFauci calls U.S. coronavirus testing delays "totally unacceptable."
  4. Business: America's next housing crisis.
  5. States: Virginia launches contact tracing app using specs from Apple and Google.
  6. Cities: L.A. mayor authorizes utilities shut-off at homes hosting large gatherings
  7. Politics: White House, Democrats remain "trillions of dollars apart" on stimulus talks.

L.A. mayor authorizes utilities shut-off at homes hosting large gatherings

Los Angeles Mayor Eric Garcetti speaks during a January event in Los Angeles. Photo: Sarah Morris/Getty Images

Los Angeles Mayor Eric Garcetti announced Wednesday he's authorized the city's Department of Water and Power (DWP) to shut down utilities at locations that host large gatherings during the coronavirus pandemic.

Driving the news: Garcetti's announcement follows a fatal shooting at a house party attended by roughly 200 people last Monday, the Los Angeles Times notes.