Dollar stores expecting higher sales
U.S. dollar store chains on Thursday raised their sales expectations for the year as bargain-hunting Americans increasingly shop at discounters with inflation at a four-decade high.
Shares of Dollar Tree and Dollar General rebounded from a slide last week that wiped off nearly a fifth of their value after huge profit declines at industry bellwethers Walmart and Target.
The dollar stores reported better-than-expected results for the first quarter, which analysts believe should bring respite to the battered retail sector.
Low-income families are increasingly browsing the aisles at discount stores for cheaper tissues and cereals after COVID-19 stimulus payments stopped coming in and prices of essentials soared.
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2022-05-27T07:00:00.0000000Z
2022-05-27T07:00:00.0000000Z
https://daily.gazette.com/article/282016150950447
The Gazette, Colorado Springs