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Dollar Tree (DLTR) closed at $68.94 in the latest trading session, marking a -0.61% move from the prior day.
These two discount retailers are struggling in 2024, but could offer a buying opportunity.
DLTR's Family Dollar partners with Instacart to accept SNAP/EBT payments from consumers.
Dollar Tree (DLTR) reported earnings 30 days ago. What's next for the stock?
DLTR faces troubles from a tough macro landscape, affecting the demand for discretionary items. This impacts sales at Family Dollar stores.
Dollar Tree (DLTR) shares tumbled 34% in the third quarter, making it the S&P 500's fifth worst performing stock over the period, as a challenging macro environment has caused financially constrained consumers to rein in spending on discretionary products.
When the Federal Open Market Committee (FOMC) voted to lower the federal funds rate by 50 basis points—rather than a widely expected 25—at its September meeting, the S&P 500 continued its seemingly optimistic path skyward to fresh record highs. Many investors had already factored an anticipated rate cut into their calculations, helping to push the market upward throughout most of this month.
Profits are plunging for Dollar Tree and Dollar General --- just like what often happens right before a recession. Recessions are temporary, and Dollar General is also working to fix profits with some things in its control.
Discount retailers like Dollar Tree (DLTR) and Dollar General (DG) are some of the worst performers in the S&P 500 index this year. DLTR has slumped by 50% in 2024, bringing its market cap to $15.8 billion while DG has slumped by over 36%.
Softening Family Dollar demand, rising costs, margin pressures and a tough macroeconomic environment have weighed on Dollar Tree's price performance.