NEW YORK, Sept 04 (Reuters): Discount store operator Dollar Tree cut annual forecasts on Wednesday, as it struggled to lure in price-sensitive shoppers for its more profitable higher-margin goods amid sticky inflation, sending shares down about 9 per cent in premarket trading.
Peer Dollar General also cut its annual forecasts after its quarterly sales came below expectations, signaling strained spending from lower-income customers as well as value-seeking behavior from middle and higher-income households.
Dollar stores have struggled to attract shoppers as bigger rivals such as Walmart, Target and PDD Holding's ecommerce platform Temu compete for customers.
Dollar Tree cuts annual forecasts on weaker demand
FE Team | Published: September 05, 2024 00:45:36
Dollar Tree cuts annual forecasts on weaker demand
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