Dollar General reported a significant drop in quarterly sales, indicating that low-income consumers are under more financial pressure than anticipated, impacting the entire dollar store sector.
CEO Todd Vasos emphasized that the company encountered a weaker sales environment for its core consumer, who largely comes from income-constrained households.
This situation contradicts previous assumptions that dollar stores thrive in all economic conditions, as evidenced by substantial drops in sales and stock value.
A survey revealed troubling financial indicators among Dollar General's key customers, with many reporting maxed-out credit cards and increasing difficulty in managing bills.
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