Inflation has continued to negatively impact these households, with more than 60% claiming they have had to sacrifice on purchasing basic necessities, said CEO Todd Vasos.
Comparable sales will rise 1% to 1.6% for the year, down from the previous outlook for a 2% to 2.7% increase. Dollar General also cut its 2024 profit view.
Dollar General, which operates more than 20,000 stores, caters to Americans in the lowest rung of the income ladder, with its core customer making less than $35,000 a year.
As the economy has oscillated between growth and recession fears, the company has struggled to fend off competition from retailers that have been cutting prices and offering deals.
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