Reported about 1 month ago
Dollar General's shares dropped 29% to a six-year low after the company revised its sales and profit forecasts downward, citing intensified competition from rivals like Walmart and Target. The discount retailer's performance indicated struggles to attract budget-conscious customers as economic pressures mount, particularly for low-income households that form its core customer base. The updated forecast prediction for same-store sales and earnings per share reflects these challenges, prompting the need for price cuts and promotions to regain customer traffic.
Source: YAHOO