Dollar General CEO says ‘financially constrained' consumers partially to blame for softer demand
GMGM(GM) Fox Business·2024-08-29 23:42

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 550million,whileitsdilutedearningspersharefell20.2550 million, while its diluted earnings per share fell 20.2% to 1.70. Its net sales for the quarter were 10.21billion,shyofanalystsaverageestimateof10.21 billion, shy of analysts' average estimate of 10.37 billion, according to LSEG data.The discount store operator and rival Dollar Tree have be ...