Retailers Rolled In Market Selloff
It was another mixed day of retailer earnings, with several outsized moves to discuss. 👇
Dollar Tree shares tumbled as the consumer trend of spending mostly on food and essentials, pressuring margins at the discount retailer. Its earnings and revenues topped expectations, with same-store sales climbing 6.9% across the company. However, executives cut full-year revenue and earnings guidance, citing those consumer trends and challenges with shrink. $DLTR shares fell 13% on the day. 💵