If there was any confusion about how the lower half of the US consumer class is doing these days, it was quickly lifted following today's distressing earnings calls of dollar store titans, Dollar General and Dollar Tree.
Discount retailer Dollar General said it was cutting prices on its most popular items such as bread, eggs and milk, intensifying a price war among already commoditized products with retail giant Wal-Mart Stores to win back falling market share. It shares fell the most on record, plunging by 18% after the company missed on revenue, blaming aggressive competition, lower food prices and reduction in SNAP, or food stamp, coverage in 20 key states.
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2 comments:
What would half of this country do without the dollar stores? They take coupons, cleaning supplies are half of store prices, food, any household items you need is cheaper, you can decorate your house, be able to buy gifts for Christmas for all your family and have friendly people. What more can you ask, everyone save money, stretch your dollars.
I boycott walmart and go to dollar general for most domestic items alot less hassle and walking.Most things are just a few cents more but its worth it
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