Dollar Stores

Inflation

Seeing success, Dollar Tree doubles down on food

As grocery prices continue to soar, more shoppers are turning to Dollar Tree and its banner, Family Dollar, for groceries. And the extreme discounter is preparing for the deluge.

Retailers

Renewed focus on food and drink boosts Dollar Tree’s Q3

The discounter raised its financial outlook for the year, saying efforts to drive sales of consumables and focus on value are working.

The discounter said its lowest price point is more important than ever and that it plans to expand its offerings. Competitor Dollar Tree raised its prices to $1.25 late last year.

The discounters are beefing up their merchandising of fresh and frozen foods, and lowering prices even further, to attract cash-strapped shoppers.

Both retailers reported strong grocery sales Thursday, but Dollar Tree lowered its earnings forecast while Dollar General raised its full-year outlook.

The Occupational Safety and Health Administration found obstructed exit routes, unstable merchandise stacks and more at several Georgia locations of the discount retailer.

The discounter is now selling popular fruits and vegetables at 10 stores in Little Rock, as it works toward its goal of 3,000 stores with fresh food by the end of the year.

The Dollar Tree banner, which temporarily closed 400 stores earlier this year because of a rodent infestation, has a “disturbing history of putting profits above employee safety,” the agency said.

Retailer approves promotion of COO Jeffery Owen to succeed Vasos as CEO in November

The dollar store, which raised prices to $1.25 last fall, is under pressure from investors despite higher sales and improved margins.

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