Dollar General stock was falling Thursday after the discount retailer slashed guidance amid softer sales trends and as it plans to increase investments to speed up inventory reduction efforts.
Same store sales decreased 0.1% compared to the first quarter of 2022, driven by a decline in customer traffic. Dollar General slashed its fiscal 2023 outlook as it takes actions to accelerate the pace of its inventory reduction efforts and makes additional investments in areas like retail labor. The retailer also cited softer sales trends.
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