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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

Go deeper

6 hours ago - Health

Food banks feel the strain without holiday volunteers

People wait in line at Food Bank Community Kitchen on Nov. 25 in New York City. Photo: Michael Loccisano/Getty Images for Food Bank For New York City

America's food banks are sounding the alarm during this unprecedented holiday season.

The big picture: Soup kitchens and charities, usually brimming with holiday volunteers, are getting far less help.

9 hours ago - Health

AstraZeneca CEO: "We need to do an additional study" on COVID vaccine

Photo: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

AstraZeneca CEO Pascal Soriot said on Thursday the company is likely to start a new global trial to measure how effective its coronavirus vaccine is, Bloomberg reports.

Why it matters: Following Phase 3 trials, Oxford and AstraZeneca said their vaccine was 90% effective in people who got a half dose followed by a full dose, and 62% effective in people who got two full doses.

Updated 11 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus cases rose 10% in the week before Thanksgiving.
  2. Politics: Supreme Court backs religious groups on New York coronavirus restrictions.
  3. World: Expert says COVID vaccine likely won't be available in Africa until Q2 of 2021 — Europeans extend lockdowns.
  4. Economy: The winners and losers of the COVID holiday season.
  5. Education: National standardized tests delayed until 2022.

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