Reported about 1 month ago
Dollar General's stock dropped by 32% after the discount retailer revised its sales forecast downward, citing a 'cash-strapped' customer base struggling to afford basic necessities. CEO Todd Vasos highlighted that the weakest sales occurred at the end of each month, as consumers shifted their purchasing habits towards cheaper, consumable goods. As a result of increasing competition from larger retailers like Walmart, analysts are concerned about Dollar General's ability to maintain its appeal and profitability.
Source: YAHOO