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Discount Retailer

All articles tagged with #discount retailer

business1 year ago•1 min saved

"99 Cents Only: End of an Era as All Stores Close Amid Bankruptcy Fears"

99 Cents Only, the deep discount retailer, is closing all 371 of its stores in the United States, including at least 15 stores in Las Vegas and others in Henderson, North Las Vegas, and Boulder City. Liquidation sales are set to begin, and the company, founded in 1982, is based in Commerce, Calif. The chain had a notable presence in Las Vegas, with its 13th store opening in 2011 and efforts to bring beer and wine sales to the area in 2013.

via Las Vegas Review-Journal|

#99-cents-only #business #discount-retailer

business2 years ago•1 min saved

Dollar General's CEO Strives for Turnaround Amidst Declining Sales and Consumer Constraints

Dollar General warns of constrained consumer spending, particularly in categories like clothes and home goods, heading into 2024, despite beating analysts' estimates for Q3. The discount retailer has been facing challenges from a shift in shopper preferences and competition from larger retailers. Dollar General is taking measures to keep prices low and clear excess stock, but gross margin fell due to a rise in retail shrink. The company reaffirmed its annual sales and profit forecasts but expects shrink-related headwinds to continue into 2024. Rival Dollar Tree also trimmed its sales forecast on weaker spending from lower-income households.

via Yahoo Finance|

#business #competition #consumer-spending