Dollar Tree Cuts Annual Forecasts After Dour Quarter on Weaker Demand; Shares Drop

Dollar Tree Cuts Annual Forecasts After Dour Quarter on Weaker Demand; Shares Drop
The Dollar Tree sign is seen outside the store in Washington on June 1, 2021. Erin Scott/Reuters
Reuters
Updated:
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Dollar Tree joined main rival Dollar General in cutting annual forecasts after missing quarterly estimates on Wednesday as the discount store operator struggles to attract price-sensitive shoppers amid rising competition.

Shares of the company, which have lost nearly half of its value so far this year, were last down about 20 percent after touching an over four-year low of $64.04.