Shares of Dollar Tree Inc. and Dollar General Corp. surged on May 26 after upbeat financial news for 2022 from the two discount retail chains in the their first-quarter earnings reports.
Many shoppers are flocking to discount retailers as U.S. inflation rates hit a four-decade high.
“Despite ongoing headwinds due to supply chain pressures and heightened inflation, we remained focused on controlling what we can control and delivered solid financial results, which exceeded our expectations for sales and EPS for the quarter,” said Dollar General CEO Todd Vasos.
“We’re already starting to see our core customers start to shop more intentionally,” Vasos said on a call with analysts, “and we’re starting to see that next tier of customers start to shop with us a little bit more as well.”…