Dollar General Cuts Profit Forecast on Supply-Chain Woes [BNN Bloomberg (Canada)]
Dollar Tree, Inc. (DLTR)
Last dollar tree, inc. earnings: 3/4 07:30 am
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Source: BNN Bloomberg
Adjusted earnings will increase by no more than 8% in the current fiscal year, down from a prior forecast for growth of as much as 14%, Dollar General said in a statement Thursday. The new guidance trails Wall Street's estimates even as more shoppers flock to discount stores in the face of relentless inflation. The shares fell as much as 9.3% in New York, their biggest intraday slump since May. The stock had advanced 8.4% this year through Wednesday, while the S&P 500 index fell 14%. Dollar General said it's struggling with a cost squeeze due to “unanticipated delays in acquiring additional temporary warehouse space sufficient for its inventory needs.” The company also cited earnings pressure from its sales mix, as customers are spending more on food and other consumable products, which generally carry lower profit margins. The supply-chain headaches amount to a “a rare, self-imposed misstep” for the dollar-store chain, Bloomberg Intelligence analyst Jennifer Bartashus said in
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DLTR
Earnings
- 3/13/24 - Miss
DLTR
Sec Filings
- 4/4/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- DLTR's page on the SEC website