Jim Cramer says Dollar General has Walmart to blame for ugly earnings

Dollar General's weak quarterly earnings report, and the stock's subsequent brutal selloff, has fellow retailer Walmart to blame, according to Jim Cramer. Shares nosedived more than 25% on Thursday after the discount retailer lowered full-year guidance for profit and sales. Management expects 2024 same-store sales to be up 1% to 1.6%, missing expectations for a 2% to 2.7% increase.

Cramer argued that Walmart's been able to grab market share from Dollar General because the former has been offering more and more bargains and deals that are affordable to lower-income consumers. DG WMT YTD mountain Dollar General vs. Walmart YTD "Walmart has become a driving force where people of lower income recognize that the prices have come down, and feel like they're getting the everyday lower prices that Sam Walton created," Cramer said.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jim Cramer prefers Mondelez over this food peer — plus, his take on 4 more stocksJim Cramer on Monday offered his thoughts on KeyCorp, Robinhood, Prologis, Qualcomm and General Mills.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market ThursdayWall Street looks to rebound after a losing session Wednesday driven by a pullback in Nvidia.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market WednesdayClub name Nvidia is set to deliver earnings after Wednesday's close in what's been wrongly seen as a make-or-break moment.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market TuesdayStill zero-sum? Can tech go up with rates coming down? Isn't the weighting of tech too high if rates are going lower?
Source: CNBC - 🏆 12. / 72 Read more »