Dollar stores, in particular, have felt pinched as their core customer make tradeoffs after a prolonged period of pricier food and everyday costs.
Dollar Tree cut its full-year outlook, citing increasing pressures on middle-income and higher-income customers.
Dollar Tree includes two store chains, its namesake, which sells a wide variety of lower-priced items like party supplies, and Family Dollar, which carries more food. Same-store sales for the company rose by 0.7% in the quarter. At Dollar Tree, same-store sales increased by 1.3% and at Family Dollar, same-store sales fell by 0.1%. The industry metric takes out the impact of store openings and closures., citing market conditions and store performance. Then, in June, the company said it is considering selling the Family Dollar brand.
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