The top two U.S. discount store chains raised their full-year profit forecast on...
- The top two U.S. discount store chains raised their full-year profit forecast on Thursday as a push on adding a range of new products - from fresh food to self-owned brands - starts to pay off, cushioning a blow from increased tariffs on Chinese imports.
The two dollar stores, which source a large chunk of their merchandise from China, are already looking at other sources as the trade war shows no sign of relenting. Dollar General forecast annual earnings of $6.36 per share to $6.51 per share, including the anticipated impact of increased tariffs. It had previously forecast $6.30 to $6.50.
“We’re getting our core customer back into the store in Family Dollar and they’re liking what they’re seeing,” Dollar Tree Chief Financial Officer Kevin Wampler told analysts.
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