Dollar General shares tumble after it cuts forecasts, blaming a spending slump and theft

Major retailer Dollar General has revised its sales and profit forecast downwards for the year due to factors such as weaker consumer spending on non-essential purchases, inflation, and increasing theft, indicating a pullback in shopping by American consumers.

cnn.com

Relevant topic timeline:

8/31/2023

UPDATE 2-Dollar General shares tank after another disappointing quarter

Dollar General cuts annual forecasts and misses profit and sales expectations due to weaker store traffic and increased sales of low-margin essentials, resulting in a 17% drop in its shares; the company has fallen short of earnings expectations for four consecutive quarters and cites heavy competition and high inflation as factors.

8/31/2023

These are the top 10 things to watch in the stock market Thursday

Salesforce reports a strong quarter, leading to multiple price-target increases from analysts and a 6% jump in shares, while Dollar General sees a decline in results and slashes forward guidance.

8/31/2023

Dollar General Stock Sinks. The Retailer Slashes Its Outlook After Missing Earnings Expectations.

Dollar General stock plunges after the retailer cuts its forecasts due to lower sales and increased expenditures.

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Dollar General's messy stores are haunting the retailer as it takes a $95 million hit on inventory markdowns and deploys 'smart teams' to clean up

Dollar General is implementing markdowns and deploying special teams of employees to tackle excess inventory and clean up its messy stores, in an effort to improve sales and address cluttered aisles that have deterred middle-income shoppers.

9/2/2023

In Lululemon and Dollar General earnings, signs of a possible economic split

Lululemon, a higher-end athletic retailer, reported strong sales and revenue growth in the second quarter, while Dollar General, a discount store, lowered its sales and profit outlook due to weaker consumer spending and higher costs of living, reflecting diverging economic trends among different income classes in the post-pandemic economy.

9/19/2023

Dollar General Disappoints with Falling Profits and Gloomy Outlook

Dollar General's declining margins and financial strain caused by its own discounts undermine its viability, leading to a cautious outlook on DG stock.