Dollar Stores Cut Forecasts

This is a news story, published by CNBC, that relates primarily to Dollar Tree news.

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Dollar Tree

CNBC

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Shoppers hunt for deals, but Dollar General and Dollar Tree aren't reaping the benefits

Summary

Nutrition label

76% Informative

Dollar General and Dollar Tree have cut their full-year forecasts because of weaker-than-expected sales.

Low-income households, who tend to shop at the deep discounters, have been hit hardest by inflation.

Company-specific problems such as messy stores, worker safety concerns and limited e-commerce businesses have also hurt the dollar stores.

Shares of Dollar Tree and Dollar General have fallen more than 40% this year .

Dollar Tree and Dollar General have acknowledged stiffer competition.

Costco , Walmart -owned Sam's Club , online players such as Amazon and Temu , and private label-focused grocers Aldi and Trader Joe's are also competing for — and sometimes stealing away — price-conscious shoppers.

Both companies have faced backlash on social media and agreed to pay millions of dollars in fines to federal regulators for conditions of stores and warehouses.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful