Dollar General indicated on Thursday the vaccine rollout and a reopening economy would lead to a bigger-than-expected slowdown in sales for discounted groceries, while a new round of stimulus may be tougher to take advantage of than before.
The company’s shares fell over 6% as it also forecast full-year profit below estimates.
The promise of a return to relative normalcy later this year as more Americans get inoculated against COVID-19 has made the boom in pantry stocking, which made Dollar General one of the bigger retail beneficiaries of the health crisis, unlikely to be repeated.
Source: Reuters
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