Dollar General's Stock Plummets as Sales Slump and Outlook is Slashed

Dollar General has cut its sales and profit outlook for the year, citing weaker consumer spending on non-essential purchases and increasing theft. The discount store's challenges reflect a broader trend of American consumers pulling back on shopping amid high inflation. Dollar General's core customers, who are feeling the pressure of the cost-of-living crisis, are cutting back on non-consumable and indulgent purchases. The retailer now expects lower sales and earnings for the year, and its same-store sales are projected to decline or have minimal growth. The company also highlighted an increase in product theft as a factor impacting its profit.