That latest Trump ad was eerily prescient.
New Trump ad drop!
— Charlie Kirk (@charliekirk11) August 26, 2024
Harris vs Harris.
This is the most honest Kamala will ever be. pic.twitter.com/0Y82EDFUDY
"Everyday prices are too high. Food, rent, gas, back to school clothes..."
As Harris proudly proclaims throughout, that IS #Bidenomics. And no matter how she now desperately wants to untether herself from the administration of which she is still the Number Two gal and the economic damage wrought by their policy decisions, she and Joe Biden are the ones who "did it."
The party of the poor and disenfranchised has done a fine job of "opportunity" and "making life affordable" when their inflationary indulgences have crushed lower wage earners and poorer Americans so severely that even Dollar General becomes an extravagance.
BREAKING: Dollar General PLUMMETS 26% in the premarket and is now DOWN ~70% from its 2022 highs
— Triple Net Investor (@TripleNetInvest) August 29, 2024
DG follows a wave of struggling retailers seeing their stock plummet
Most notably, Walgreens is trading at ~$9 a share, down ~90% from their all time highs 🤯 pic.twitter.com/Ax7DzrppYs
This isn't upscale Target complaining about shoplifting in permissive, crime-friendly blue cities and having their profit margins wiped out by retail theft gangs.
Not at all. These people are looking for the everyday necessities of life from a ubiquitous chain built around being affordable, economical, and easily accessible.
For instance, in our semi-rural redneck of the Florida panhandle, you can find random Dollar Generals within a little over a mile from each other. They're clustered like mushrooms sometimes, so folks can walk to them and carry those groceries and household items home. Those can be pricier, but there's not the distance to travel to a proper grocery store, either.
They always seem to be busy.
But in the era of Kamala and the ongoing carnage of #Bidenomics, they're apparently not doing as much business, even at their minimal price point. And the company is quite clear why.
Inflationary pressures are eating their customers alive.
Dollar General shares tumbled Thursday after the discount retailer slashed its sales and profit guidance for the full year, suggesting its lower-income customers are struggling in this economy.
Shares of the retailer, which caters to more rural areas, tumbled 25% after the earnings report.
The company now expects fiscal 2024 same-store sales to be up 1.0% to 1.6%, lower than its prior outlook for a 2% to 2.7% increase. Earnings per share for the year are expected to be in the range of just $5.50 to $6.20, versus the prior forecast of $6.80 to $7.55 per share.
“While we believe the softer sales trends are partially attributable to a core customer who feels financially constrained, we know the importance of controlling what we can control,” said CEO Todd Vasos in a statement.
It's not like Dollar General customers lived large, to begin with.
It's also not as if Dollar General has a reputation for gouging its customers - a favorite gaslighting bromide oft spouted by Kamala and Joe when called out on the deleterious effects of their policies. The truth here is quite the opposite, in fact. The chain was already a refuge for the "financially constrained," hello.
Living in a rural area, Dollar General is the only store for many. Their prices are comparable to the grocery stores father away. Yet, with the rising cost of everything, we have to cut back on what we buy.
— Nada Listless Vessel (@NadaRussianBot) August 29, 2024
There is also competition for that shrinking pool of retail sales dollars weighing on the company.
...The operator of more than 20,000 stores, Dollar General is working to improve performance under Chief Executive Officer Todd Vasos, who returned to the company last year after shares slumped under the previous leader. He has vowed to boost results by focusing on labor hours, value products and the supply chain. The retailer is also simplifying operations by removing items and slowing new store openings.
...During the earnings season, retailers have said US consumers are prioritizing essentials, and buying new, trendy products when they’re affordable. Amid high inflation and interest rates, they’re selective and remain on the sidelines for larger purchases and projects.
...Lower-income consumers – dollar stores’ core customers – have pulled back spending and are feeling more strain than other groups. Other retailers like Walmart Inc. and Aldi Inc. have ramped up competition with low prices and deals.
In that vein, watch how they spin the GDP revision to ignore what really moved it up a couple of tenths.
GDP revised up by 2 tenths..
— Frog Capital (@FrogNews) August 29, 2024
People spending more on healthcare (ozempic), rent, utilities, and gasoline.
Surviving is driving the economy.... pic.twitter.com/Og4wsa2aNi
SURVIVING IS DRIVING THE ECONOMY
That would make a great ad slogan right there in the crawl, as a car drove by the Dollar General and didn't stop.
Because they can no longer afford it.
babe wake up, a new "we did it joe" just dropped! pic.twitter.com/BwaQPSf07O
— fabi ❌ (@madonnassance) August 22, 2024
Yup.
You sure did.
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