Dollar General Prunes Annual Outlook as Shoppers Curb Spending; Shares Slide
Dollar General Corp cut its sales and profit forecasts for the year on Thursday as Americans, pinched by higher prices, shopped more for essentials and pared back purchases in categories including home goods and clothes, leading its shares down as much as 20%.
The discount store chain saw traffic to its stores decline during the quarter as its low- to middle-income customer base shifted away from discretionary goods like clothing and houseware - a challenging trend seen across retailers...
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