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4 mentions found


☆ Inflation pushed the wealthy to shop at dollar stores. Now even those places are seeing people get tighter with their money.
  + stars: | 2023-09-27 | by ( Cork Gaines | ) www.businessinsider.com   time to read: +4 min
During the pandemic, more people with higher incomes started shopping at dollar stores. They keep shopping in dollar stores, but they spend more time in the aisles with the most important products. In mid-2022, both Dollar General and Dollar Tree reported increased sales and noticed a rise in high-income customers. But now, in addition to lower sales, Dollar General is dealing with an overflow of inventory. Alex Bitter/InsiderOther businesses benefited from inflationThis recent surge in wealthier customers is not limited to just dollar stores.
Persons: —, Jeff Owen, Owen, Justin Sullivan, Mike Witynski, Witynski, General's, Todd Vasos, Alex Bitter, Chipotle Organizations: Shoppers, Service, Dollar, Wall Street, Wall Street Journal, CNN, Walmart
☆ Dollar General customers are increasingly looking for 'items at or below the $1 price point' amid economic slowdown, CEO says
  + stars: | 2023-06-01 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +4 min
Dollar General shoppers are pulling back on discretionary purchases, hurting the retailer's earnings. Dollar stores have previously fared well during economic shifts. Dollar General previously said that it expected earnings to rise as much as 6% for the year. That gave Dollar General shoppers less fun money to spend than expected. Shares of Dollar General were down nearly 20% at $161.31 in midday trading after the company reported earnings.
Persons: —, Jeffrey Owen, Owen, Todd Vasos, John Tomlinson, Tomlinson, It's Organizations: Service, Dollar, Walmart, Costco, Sam's Locations: America
☆ Dollar General’s newest shoppers: People making $100,000 a year
  + stars: | 2022-09-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
New York CNN Business —Middle-income and wealthier shoppers, pinched by inflation, are shopping more at Dollar General for essentials and discretionary items. Dollar General (DG) CEO Todd Vasos this week said the retail giant has been attracting customers earning $100,000 a year in recent weeks. Inflation has pushed up prices for groceries and gas, and now these shoppers are turning to Dollar General (DG) and others to try to save money. Some of these customers first shopped at Dollar General earlier in the pandemic and have now returned, he added. Dollar General has been a lifeline for lower-income shoppers, particularly in rural areas with few other retail options.
☆ Dollar Tree's stock tumbles as rival Dollar General's bet on food and groceries pays off
  + stars: | 2022-08-25 | by ( Robert Hum | ) www.cnbc.com   time to read: +4 min
Look at what's happening between Dollar General and Dollar Tree if you want proof. The reason for Dollar Tree's weaker outlook is price cuts it's taking at Family Dollar stores that will eat into margins. Dollar General said it's seeing plenty of customers visiting its stores to buy food and groceries. But the problem for Dollar Tree is that it has less exposure to the grocery business than Dollar General. Family Dollar's customers tend to have lower incomes than both Dollar Tree and Dollar General, and clearly these shoppers are feeling the strain of months of higher prices.
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