Dollar General stock crashes 17% after the budget retailer cuts its outlook for the rest of the year

Dollar General's stock plunged 17% after missing earnings expectations in Q2 and revising its outlook for the rest of the year, citing weaker sales trends and inventory pressures.

businessinsider.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

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.

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.

9/20/2023

Pinterest, General Mills Up Premarket; Instacart Falls in IPO Debut While Coty Rises on Upbeat Outlook

Dollar General shares fall after being downgraded by JPMorgan, Pinterest shares climb following investor day, General Mills beats expectations, Instacart stock drops after IPO, Coty raises outlook, Bausch Health gains on upgrade, and Goldman Sachs plans to sell lending platform Greensky.

9/20/2023

General Mills Profits Drop as Inflation Cuts into Sales Growth

General Mills' profits have fallen 18% in Q1 due to eroded market share, while its sales have risen 4% to reach $4.9 billion.

9/22/2023

Stocks Tumble, Bonds Rally as Hawkish Fed Stance Stokes Recession Fears

Stocks plunged on Thursday and the S&P 500 suffered its worst day since March as increasing investor risk aversion and a surge in bond yields raised concerns about the US economy and impacted both stock and bond investors.