Dollar General Faces Major Setbacks as Financially Strained Consumers Cut Spending

The discount retailer's stock plummets after lowering its annual sales and profit forecasts due to reduced consumer spending and increased competition.

Dollar General's stock dropped over 30% following a disappointing earnings report and reduced financial outlook.
CEO Todd Vasos attributed lower sales to financially constrained customers struggling with inflation and higher costs.
The company observed weaker sales at the end of each month, indicating customers are running out of money before payday.
Increased competition from Walmart, Target, and online platforms like Temu has further pressured Dollar General's market share.
Dollar General has been criticized by labor groups for unsafe working conditions and inadequate employee support.