Reported about 1 month ago
Dollar Tree has lowered its full-year earnings and sales forecasts, resulting in a significant drop in its stock, as inflation continues to squeeze customers' spending. The company is losing market share to larger retailers like Walmart and Target, which offer lower prices on essential items. Dollar Tree's adjusted revenue for the second quarter fell short of expectations, and the retailer anticipates continued challenges as inflation impacts more affluent customers, with an overall decline in net income attributed to issues related to its Family Dollar stores.
Source: YAHOO