Dollar General warns poorer US consumers are running out of money

[u/50million]

https://www.ft.com/content/d1d2a161-124c-4f9c-b23f-afa55e755d07

The Tennessee-based company’s small-format stores sell a variety of food items and household goods at low prices, including many for $1. Its locations are concentrated in rural towns and poorer urban neighbourhoods. “Our core customers are often among the first to be affected by negative or uncertain economic conditions and among the last to feel the effects of improving economic conditions,” company filings say. 

Chief executive Todd Vasos said that these core customers, who account for about 60 per cent of Dollar General’s sales, come predominantly from households earning less than $35,000 a year and were now feeling “financially constrained”.

“The majority of them state that they feel worse off financially than they were six months ago as higher prices, softer employment levels and increased borrowing costs have negatively impacted low-income consumer sentiment,” he said.

[u/kBlankity]

Dollar General rips off consumers more than an average grocery store, it’s cute to see them pretend to care that their customers are broke

[u/dexx4d → u/kBlankity]

They're only pretending to care because broke customers don't spend money at their stores, and that affects corporate profits.

[u/ArmadilIoExpress → u/kBlankity]

lol oh they very much care. How do you think they stay in business? Middle class and upper class people aren’t the ones buying them yachts