Dollar General Shares Dive 25% After Slashing Sales Outlook, Cites Struggles Among Its Lower-Income Customers

Benzinga 2024-08-30

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Dollar General shares plummeted 25% after the retailer slashed its sales and profit outlook for the year, indicating financial struggles among its lower-income customers. The discount retailer reduced its fiscal 2024 sales growth and earnings projections from previous estimates. Dollar General's earnings per share and revenue fell short of Wall Street expectations. CEO Todd Vasos attributed weaker sales to financially constrained customers and acknowledged the need for store improvements and better inventory management. Competitor Dollar Tree's shares also fell in response.

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