Posted on 08/29/2024 10:37:01 AM PDT by RomanSoldier19
Dollar General stock plunged 27% on Thursday after the company released second quarter financial results that showed softening consumer demand and prompted a cut to its annual sales and profit forecast.
The company's operating profit decreased by 20.6% to $550 million, while its diluted earnings per share fell 20.2% to $1.70. Its net sales for the quarter were $10.21 billion, shy of analysts' average estimate of $10.37 billion, according to LSEG data.
(Excerpt) Read more at aol.com ...
“Everything in our store costs $1!”
“Well, that’s too much.”
In other news- Rape victims partially to blame for lack of sex drive.
That’s Dollar Tree, not DG.
Dollar General used to be cheaper than Wal Mart, now Dollar General is outrageous in prices and poorly stocked. I stopped buying anything there.
They changed last year and began devoting an awful lot of space to home decor stuff.
THE ONE NEAR ME IS ALWAYS BUSY-—RURAL AREA
LADIES COULD NOT BE NICER
Buck and a quarter store now. We luvs branDUHnomics!
Mebbe the customers couldn’t shop because of all of the unopened inventory in the aisles.
I’d have guessed that dollar general would do well in hard times. If people are holding back at dollar general….we’ll geez…
And their prices, which used to rival Walmart, are now on a par with Publix. Not good....
That about nails it- typical leftist strategy, laying blame on the consumer, not economics or the current administration.
He didn’t say consumers were to “blame”.
He simply said that consumers were financially constrained and therefore spending less.
My local DG is clean, well-stocked, and the prices are as reasonable as can be expected given current inflation.
Here is another article on their financials.
“Dollar General Crashes Most On Record After Management Warns Of “Financially Constrained Core Customer””
My understanding is that Dollar General is run better than Family Dollar/Dollar Tree. 99C Store in the west just went under, with Dollar Tree taking many of the sites. Big Lots! is closing a lot of stores.
If Dollar General can outlast the competition, it should make it.
I’ve never been in any of these Dollar _________. What exactly do they sell?
Maybe stop building so many new stores.
Yeah, DG should be fine. Since one was built about 7 miles from my home, I’ve reduced my trips to the Kroger (15 miles away) by half. I can buy bread, cat food, personal care items, cleaning products, etc. at a lot less than I would pay at Kroger. Those of us in rural counties depend on them for our basic household needs. They have a “$5.00 off if you spend $25” coupon on Saturdays that I make sure to have in hand on that day when running errands.
And if you are preparing for a picnic or trip to the lake, or stocking your camper/RV, they are the only place to get paper plates, napkins and such. You pay about half the price than at a grocery store.
More news about consumer spending.
“Goldman Says Five Below’s Earnings Indicate “Core Customer Pressured & Is Reducing Discretionary Spending” “
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