Dollar General vs Five Below: Founders, CEOs and History
Dollar General was founded in 1939 by James Luther Turner, Cal Turner Sr. and is led by Todd Vasos. Five Below was founded in 2002 by David Schlessinger, Tom Vellios and is led by Winnie Y. Park.
Company facts
Dollar General
- Founded
- 1939
- Headquarters
- Goodlettsville, Tennessee
- Current CEO
- Todd Vasos
- Employees
- 194,000
Five Below
- Founded
- 2002
- Headquarters
- Philadelphia, Pennsylvania
- Current CEO
- Winnie Y. Park
- Employees
- 24,600
Founders
Dollar General
James Luther Turner
Dollar General possesses a historic founding story rooted in the desperation of the Great Depression and the entrepreneurial resilience of a father-and-son team from rural Kentucky. The company was founded by James Luther (J.L.) Turner and his son Cal Turner.
Cal Turner Sr.
Cal Turner Sr. Is the figure most responsible for defining the Dollar General concept that persists to this day. While his father J.L. Turner built the commercial infrastructure and the geographic footprint that preceded Dollar General it was Cal Sr.
Five Below
David Schlessinger
David Schlessinger co-founded Five Below in 2002 with Tom Vellios. He had earlier founded Encore Books and Zany Brainy. With Vellios he identified an underserved tween and teen customer and built a store where nearly everything cost $5 or less.
Tom Vellios
Tom Vellios co-founded Five Below in 2002 and led the company as CEO in its early growth years, including the 2012 Nasdaq IPO.
CEOs and their tenures
Dollar General
- Cal Turner Jr.1977–2002
Former Chairman and Chief Executive Officer
Expanded the store base across the U.S. over 25 years; his tenure ended after the 2001 accounting restatement.
Source - Todd Vasos2023–present
Chief Executive Officer
Under his second tenure, same-store sales grew 3.0% in FY2025, net income rose to $1.51 billion, and the company raised FY2026 guidance after Q2 diluted EPS increased 33.3%.
Source - Donny Lau2025–present
Executive Vice President and Chief Financial Officer
Co-hosts quarterly earnings calls with Todd Vasos and presented the August 2026 guidance raise.
Source
Five Below
- Joel Anderson2015–2024
President and Chief Executive Officer
Sales grew from about $1.0 billion in fiscal 2016 to $3.56 billion in fiscal 2023 during his tenure. He left in July 2024 and later became CEO of Petco.
Source - Winnie Y. Park2024–present
Chief Executive Officer
Under Park, comparable sales rose 12.8% in fiscal 2025 and 18.3% in the first half of fiscal 2026, and the store base passed 2,000.
Source - Kenneth Bull2024–present
Chief Operating Officer
Provided continuity through the 2024 leadership transition.
Source - Daniel Sullivan2025–present
Chief Financial Officer
Oversees finance during the fiscal 2026 guidance raise and new $600 million buyback authorization.
Source
Timeline: Dollar General and Five Below side by side
1939Dollar General
J.L. Turner and Son Founded
James Luther Turner and his son Cal Turner Sr. Open a retail dry-goods store in Springfield, Kentucky, the commercial precursor to Dollar General.
1955Dollar General
Dollar General Name and Concept Launched
Cal Turner Sr. Opens the first store under the Dollar General name in Scottsville, Kentucky, with a strict dollar-or-less price promise. The store generates more than $750 in sales on opening day.
1968Dollar General
Initial Public Offering on NYSE
Dollar General lists on the New York Stock Exchange, using IPO proceeds to fund accelerated expansion of the store network beyond its Kentucky and Tennessee roots.
1977Dollar General
Cal Turner Jr. Becomes CEO
Third-generation Turner family member Cal Turner Jr. Assumes the chief executive role, beginning a 25-year tenure that will see Dollar General expand to national scale.
2001Dollar General
Earnings Restatement Crisis
Dollar General discloses a restatement of approximately $100 million in overstated earnings from 1998 to 2000, due to inventory and lease accounting irregularities. Multiple senior finance executives depart.
2002Five Below
Five Below Founded
David Schlessinger and Tom Vellios found the company and open the first store in the greater Philadelphia area.
2007Dollar General
KKR Leveraged Buyout
Kohlberg Kravis Roberts acquires Dollar General for approximately $6.9 billion in one of the largest retail leveraged buyouts in U.S. History, taking the company private.
2009Dollar General
Return to Public Markets
Dollar General re-lists on the NYSE during the Great Recession, with an IPO that raises approximately $716 million. The offering is oversubscribed, reflecting investor appetite for recession-resistant consumer exposure.
2012Five Below
Initial Public Offering
Five Below completes its IPO and begins trading on Nasdaq under the ticker FIVE.
2013Dollar General
10,000-Store Milestone
Dollar General surpasses 10,000 stores, becoming the first dollar-store operator to reach that threshold and cementing its position as the most geographically pervasive retailer in the United States.
2015Five Below
Joel Anderson Becomes CEO
Joel Anderson, who joined as president in 2014, became CEO and led a long period of national expansion until July 2024.
2016Five Below
E-Commerce Launch
Five Below launches e-commerce, adding digital reach to the store-led model.
2019Dollar General
DG Fresh Initiative Launched
Dollar General begins rolling out DG Fresh, a self-distribution capability for refrigerated and frozen foods that reduces dependence on third-party distributors and improves gross margin on perishables.
2020Dollar General
POpshelf Format Debut
Dollar General launches the pOpshelf concept, a higher-income-targeted, treasure-hunt retail format offering predominantly seasonal, home décor, and beauty merchandise at prices under $5.
2023Dollar General
OSHA Severe Violator Designation
OSHA designates Dollar General a severe violator following years of citations for unsafe store conditions, subjecting the company to enhanced inspection protocols and cumulative proposed penalties exceeding $21 million since 2017.
2023Dollar General
Todd Vasos Returns as CEO
Dollar General's board reinstates Todd Vasos as chief executive in October 2023, replacing Jeffery Owen after less than two years, as the company grapples with operational challenges and declining investor confidence.
2024Five Below
Winnie Park Becomes CEO
Joel Anderson departs in July 2024; COO Kenneth Bull serves as interim CEO until Winnie Y. Park becomes CEO on December 16, 2024.
2025Dollar General
FY2025 Net Sales Reach $42.7 Billion
Dollar General reports $42.724 billion in FY2025 net sales and $1.512 billion in net income while operating more than 20,800 stores at fiscal year-end.
2026Dollar General
Store Count Passes 21,000 and Guidance Raised
Dollar General ended Q2 FY2026 with 21,148 stores and raised its full-year outlook after net sales grew 5.2% to $11.3 billion and diluted EPS rose 33.3%.
2026Five Below
2,000+ Stores
Five Below reports $4.764B in fiscal 2025 net sales and reaches 2,022 stores in 46 states by August 1, 2026.
Acquisitions
Dollar General
- 41 Walmart Express store sites2016Undisclosed
- Dollar General (taken private by KKR-led investor group)2007$7.3B
Five Below
No verified acquisitions are listed.
Questions about Dollar General vs Five Below
Who is the CEO of Dollar General Corporation and Five Below, Inc.?
Dollar General Corporation is led by Todd Vasos and Five Below, Inc. is led by Winnie Y. Park. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Dollar General Corporation founded vs Five Below, Inc.?
Dollar General Corporation was founded in 1939 — 63 years before Five Below, Inc., which was founded in 2002. Dollar General Corporation's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Five Below, Inc..
How many employees does Dollar General Corporation have compared to Five Below, Inc.?
Dollar General Corporation employs approximately 194,000 people, while Five Below, Inc. employs approximately 24,600. Dollar General Corporation has the larger workforce at 194,000 employees, compared to Five Below, Inc.'s 24,600. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Dollar General Corporation and Five Below, Inc. headquartered?
Both Dollar General Corporation and Five Below, Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Dollar General Corporation and Five Below, Inc.?
Dollar General Corporation was founded by James Luther Turner, Cal Turner Sr.. Five Below, Inc. was founded by David Schlessinger, Tom Vellios.
Which company has a longer operating history — Dollar General Corporation or Five Below, Inc.?
Dollar General Corporation has been operating for approximately 87 years, making it the more established of the two companies. Five Below, Inc. has been in operation for around 24 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Dollar General vs Five Below overview