The chain and other value-focused rivals, such as Dollar Tree, reported better-than-expected results over the last year even as inflation hurt other retailers. The earnings report shows that Dollar General isn't immune to changes in consumer spending, despite the fact that it has handled recent economic shifts well. Download InboxDollars today for free and start earning extra cash immediately. Shares of Dollar General were down nearly 20% at $161.31 in midday trading after the company reported earnings. While Dollar General is expanding its selection of fresh groceries and other food items, those products tend to be less profitable for the retailer than discretionary items.Īdditionally, Owen said, "we continue to see signs of increasing financial strain on our customers as they seek affordable options, including increased reliance on private brands and items at or below the $1 price point." Instead, that money went to essential purchases like food and household goods. DG Pickup - Buy online, pick up in store. DG Rewards Added savings based on what you buy. Digital Coupons Save on hundreds of items every week. Digital Wallet Scan products in store, add coupons and track your total. It often indicates a user profile.Īs a result, many patrons drew down spending on discretionary items, a category that includes non-essential products like electronics and toys, Owen said. - myDG More savings, coupons, product sneak peeks and more. Account icon An icon in the shape of a person's head and shoulders.
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