Dollar General shares crater 25% as retailer cuts outlook, blaming 'financially constrained' customers
Publishing timestamp: 2024-08-29 10:21:08
Summary
Dollar General missed expectations due to financial pressure on core lower-income consumers and self-inflicted issues. Shares tumbled after slashing sales and profit guidance for the full year. Company needs to improve stores and manage inventory better. Earnings per share and revenue fell short of Wall Street expectations. Competitor Dollar Tree also fell in sympathy.
Sentiment: NEGATIVE
Keywords: wall street, dollar tree inc, business news, retail industry, dividends, breaking news: markets, markets, investment strategy, stock markets, dollar general corp, breaking news: investing, breaking news: business, earnings,