Discount chains slip after Family Dollar misses expectations

theflyonthewall.com

Several discount retail chains are retreating after Family Dollar (FDO) reported lower than expected earnings per share for its first quarter, and provided second quarter earnings per share guidance that feel below analyst expectations. Family Dollar indicated that a greater number of shoppers than expected took advantage of its discounts, causing its profit margins to decline last quarter. Consumers' "increased financial uncertainty" also weighed on results, the company added. In mid-morning trading, Family Dollar fell $7.07, or 11.04%, to $56.07, while Dollar General (DG) gave back 3.96% to $41.22, Dollar Tree (DLTR) dropped 1.43% to $39.33, and Five Below (FIVE) lost 0.74% to $33.56.

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