When poor people don't have enough money to spend at the poor people's store, you know the Biden/Harris economy is in the crapper

[JGalt]

The low-income and poor people of this country love stores like Dollar General and Dollar Tree. Being working-class low-income or poor, they often have to rely on stores that have a wide variety of consumer goods, but at a low price. When those stores start showing losses, that is a bad indication of a failing economy. And when an economy starts to fail, the low-income and the poor are always the first to feel the brunt of it.

Dollar General Shares Crash After Earnings Miss & Outlook Slashed On "Financially Constrained Core Consumer"​

"Shares of Dollar General Corp. crashed 23.5% to hit levels not seen since 2018 in premarket trading in New York following a disappointing second-quarter earnings report. The nation's largest discount retailer missed Wall Street's profit and sales expectations and slashed its full-year forecast. The retailer warned that its core customers "feel financially constrained."

The discount retailer, which has nearly 19,000 locations in 48 states and 8,000 cities, reported adjusted earnings per share of $1.70 for the second quarter, missing the average estimate of analysts tracked by Bloomberg of $1.79. Revenue came in at $10.21 billion, below estimates of $10.37 billion, but still up 4.2% year-over-year. Same-store sales rose .5%, missing the 2.07% estimate.

Here's a snapshot of second-quarter earnings (courtesy of Bloomberg):

• EPS $1.70 vs. $2.13 y/y, estimate $1.79
• Net sales $10.21 billion, +4.2% y/y, estimate $10.37 billion
• Comparable sales +0.5% vs. -0.1% y/y, estimate +2.07%
• Gross margin 30% vs. 31.1% y/y, estimate 30.3%
• SG&A as percentage of revenue 24.6% vs. 24% y/y, estimate 24.4%
• Operating profit $550.0 million, -21% y/y, estimate $587.5 million"

Dollar General Shares Crash After Earnings Miss & Outlook Slashed On "Financially Constrained Core Consumer" | ZeroHedge

Incidentally, Dollar General isn't the only poor people store feeling the pain from the Biden/Harris administration. Dollar Tree also posted a less than stellar earnings report recently, and may be forced to sell off their Family Dollar stores.

"Dollar Tree on Wednesday reported quarterly earnings and announced plans to explore the sale or spinoff of Family Dollar.

First-quarter earnings for the retailer missed estimates, and the company said it's progressing in its plan announced in March to close hundreds of Family Dollar stores this year.

Family Dollar could also soon have a new home or return to operating as a standalone company, as Dollar Tree has started a "strategic review" of the brand."

Dollar Tree Posts Earnings Miss, May Sell or Spin Off Family Dollar

 

[hadit]

The dollar has already had to raise its price by 25%. It's now the dollar and a quarter store.

 

[Zincwarrior]

Sounds like we need another tax break for billionaires. Anything more is SOCIALISM!

 

[Mikeoxenormous]

The low-income and poor people of this country love stores like Dollar General and Dollar Tree. Being working-class low-income or poor, they often have to rely on stores that have a wide variety of consumer goods, but at a low price. When those stores start showing losses, that is a bad indication of a failing economy. And when an economy starts to fail, the low-income and the poor are always the first to feel the brunt of it.

Dollar General Shares Crash After Earnings Miss & Outlook Slashed On "Financially Constrained Core Consumer"​

"Shares of Dollar General Corp. crashed 23.5% to hit levels not seen since 2018 in premarket trading in New York following a disappointing second-quarter earnings report. The nation's largest discount retailer missed Wall Street's profit and sales expectations and slashed its full-year forecast. The retailer warned that its core customers "feel financially constrained."

The discount retailer, which has nearly 19,000 locations in 48 states and 8,000 cities, reported adjusted earnings per share of $1.70 for the second quarter, missing the average estimate of analysts tracked by Bloomberg of $1.79. Revenue came in at $10.21 billion, below estimates of $10.37 billion, but still up 4.2% year-over-year. Same-store sales rose .5%, missing the 2.07% estimate.

Here's a snapshot of second-quarter earnings (courtesy of Bloomberg):

• EPS $1.70 vs. $2.13 y/y, estimate $1.79
• Net sales $10.21 billion, +4.2% y/y, estimate $10.37 billion
• Comparable sales +0.5% vs. -0.1% y/y, estimate +2.07%
• Gross margin 30% vs. 31.1% y/y, estimate 30.3%
• SG&A as percentage of revenue 24.6% vs. 24% y/y, estimate 24.4%
• Operating profit $550.0 million, -21% y/y, estimate $587.5 million"

Dollar General Shares Crash After Earnings Miss & Outlook Slashed On "Financially Constrained Core Consumer" | ZeroHedge

Incidentally, Dollar General isn't the only poor people store feeling the pain from the Biden/Harris administration. Dollar Tree also posted a less than stellar earnings report recently, and may be forced to sell off their Family Dollar stores.

"Dollar Tree on Wednesday reported quarterly earnings and announced plans to explore the sale or spinoff of Family Dollar.

First-quarter earnings for the retailer missed estimates, and the company said it's progressing in its plan announced in March to close hundreds of Family Dollar stores this year.

Family Dollar could also soon have a new home or return to operating as a standalone company, as Dollar Tree has started a "strategic review" of the brand."

Dollar Tree Posts Earnings Miss, May Sell or Spin Off Family Dollar

 

[Anathema]

A lot of what’s happening is that the people are coming in and only buying the things they NEED, rather than all the extra stuff they used to throw in their carts.

I’ve seen it in my wife’s family members the last couple months (low income Hispanic families)

 

[JGalt]

Sounds like we need another tax break for billionaires. Anything more is SOCIALISM!

Liar. Biden didn't even roll back the Trump tax cuts of 2017.

Despite CBO’s Predictions, Trump Tax Cuts Were a Boon for America’s Economy and Working Families​

"The truth is, the Trump tax cuts resulted in economic growth that was a full percentage point above CBO’s forecast, and federal revenues far outpaced the agency’s predictions. In fact, under Trump tax policies in 2022, tax revenues reached a record high of nearly $5 trillion, and revenues averaged $205 billion above CBO predictions for the four years following implementation of the law.


Beyond what the Trump tax cuts did for economic growth and federal revenues, it provided major benefits to working families. The officially reported poverty level fell to its lowest rate in 50 years and unemployment rates for minorities and those without a college degree hit all-time lows. Real median household income rose by $5,000, and wages went up by nearly 5 percent. Americans earning under $100,000 saw an average tax cut of 16 percent. And while the tax burden on low-income families went down, the top one percent saw their share of federal taxes go up."

Despite CBO’s Predictions, Trump Tax Cuts Were a Boon for America’s Economy and Working Families | The U.S. House Committee on the Budget - House Budget Committee

 

[hadit]

Sounds like we need another tax break for billionaires. Anything more is SOCIALISM!

Another tax cut across the board for all taxpayers like TRUMP! did would be nice.

 

[$ecular#eckler]

Dollar General and Dollar Tree.

They are not really discounts on necessity items like foods. They are conveniently located and appeal to low-income neighborhoods because they are small stores that are easy to build.

 

[1srelluc]

They are not really discounts on necessity items like foods. They are conveniently located and appeal to low-income neighborhoods because they are small stores that are easy to build.

They are great for milk and ice-cream runs.

 

[Mr Natural]

Sounds like we need another tax break for billionaires. Anything more is SOCIALISM!

Yes! Let’s bring down inflation by putting more money out there!

 

[Zincwarrior]

Yes! Let’s bring down inflation by putting more money out there!

Bootstraps. Its only the fault of Da Poorz that they are Poorz. What right does government have to take are hard earned money for those welfare cheats? Where is it in the Constitution. You bunch of Commies. Socialism!

 

[jackflash]

The low-income and poor people of this country love stores like Dollar General and Dollar Tree. Being working-class low-income or poor, they often have to rely on stores that have a wide variety of consumer goods, but at a low price. When those stores start showing losses, that is a bad indication of a failing economy. And when an economy starts to fail, the low-income and the poor are always the first to feel the brunt of it.

Dollar General Shares Crash After Earnings Miss & Outlook Slashed On "Financially Constrained Core Consumer"​

"Shares of Dollar General Corp. crashed 23.5% to hit levels not seen since 2018 in premarket trading in New York following a disappointing second-quarter earnings report. The nation's largest discount retailer missed Wall Street's profit and sales expectations and slashed its full-year forecast. The retailer warned that its core customers "feel financially constrained."

The discount retailer, which has nearly 19,000 locations in 48 states and 8,000 cities, reported adjusted earnings per share of $1.70 for the second quarter, missing the average estimate of analysts tracked by Bloomberg of $1.79. Revenue came in at $10.21 billion, below estimates of $10.37 billion, but still up 4.2% year-over-year. Same-store sales rose .5%, missing the 2.07% estimate.

Here's a snapshot of second-quarter earnings (courtesy of Bloomberg):

• EPS $1.70 vs. $2.13 y/y, estimate $1.79
• Net sales $10.21 billion, +4.2% y/y, estimate $10.37 billion
• Comparable sales +0.5% vs. -0.1% y/y, estimate +2.07%
• Gross margin 30% vs. 31.1% y/y, estimate 30.3%
• SG&A as percentage of revenue 24.6% vs. 24% y/y, estimate 24.4%
• Operating profit $550.0 million, -21% y/y, estimate $587.5 million"

Dollar General Shares Crash After Earnings Miss & Outlook Slashed On "Financially Constrained Core Consumer" | ZeroHedge

Incidentally, Dollar General isn't the only poor people store feeling the pain from the Biden/Harris administration. Dollar Tree also posted a less than stellar earnings report recently, and may be forced to sell off their Family Dollar stores.

"Dollar Tree on Wednesday reported quarterly earnings and announced plans to explore the sale or spinoff of Family Dollar.

First-quarter earnings for the retailer missed estimates, and the company said it's progressing in its plan announced in March to close hundreds of Family Dollar stores this year.

Family Dollar could also soon have a new home or return to operating as a standalone company, as Dollar Tree has started a "strategic review" of the brand."

Dollar Tree Posts Earnings Miss, May Sell or Spin Off Family Dollar

It looks like the all American tent dwellers are being shuttled to the back row to make room for the illegal aliens in the sanctuary cities.

 

[deannalw]

They are not really discounts on necessity items like foods. They are conveniently located and appeal to low-income neighborhoods because they are small stores that are easy to build.

Dollar General is a lot different than the Dollar stores. (And Biden's Clown World may well have something to do with their going to $1.25, but to be fair- they hadn't raised their prices in 30 years or so)

Dollar General... A lot of their stuff is not all that cheap, considering what they try to convey with their name. And a lot of them are conveniently placed, but many of them look like they dropped from the sky and landed in some creepy dead farmers field. Then laid 147 other Dollar General babies in weird places. They may be the debbil.