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Dollar General Loses Wall Street Fan Base After Earnings Blowup

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Dollar General Corp. is quickly losing fans on Wall Street after cutting its profit forecast for a second straight quarter as the discount retailer faces increased competition while economic pressure builds on consumers.

At least six analysts tracked by Bloomberg downgraded their recommendations following Dollar General’s earnings report Thursday, which signaled the retailer is underperforming rivals including Dollar Tree Inc. and Walmart Inc. Meanwhile, Dollar General projected that higher labor costs and efforts to curb inventory growth will pressure profit this year. The company fell as much as 4.7% on Friday after closing a day earlier at the lowest level since March 2020.

The cuts brought Dollar General’s consensus rating — a proxy for its ratio of buy, hold, and sell ratings — to about 3.58 out of five, the lowest for the retailer since its public debut in late 2009.

 

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