Dollar General has become one of the most popular retailers in the country for its convenience and low costs.
The company is revealing something troubling about the state of the country.
And Dollar General’s CEO made one confession that is bad news for Kamala Harris.
Dollar General’s CEO sounds the alarm on the economy
Dollar General was one of the fastest-growing retailers in the country because it offered significant value with convenient locations that were often located in areas without Walmart or other big box stores.
The Tennessee-based retailer was primed to thrive in the dismal economy created by the Biden-Harris regime.
Dollar General is a store that can attract inflation-weary consumers looking to stretch their dollars.
But the retailer is sending out a distress signal about the state of the economy.
Dollar General’s stock suffered its worst single-day drop since the company went public in 2009 by falling 27%.
The retailer’s operating profit fell more than 20% or $550 million for the second quarter.
Dollar General was the store where shoppers feeling the pinch were turning to do more of their shopping, with years of high inflation taking their toll.
The company’s CEO didn’t mince his words on the state of the economy.
“While we believe the softer sales trends are partially attributable to a core customer who feels financially constrained, we know the importance of controlling what we can control,” Dollar General CEO Todd Vasos said in a statement.
Dollar General was the store that the “financially constrained” consumer turned to in the Biden-Harris economy.
President Joe Biden claimed that his economic policies were working and had beaten inflation.
Vice President Kamala Harris has echoed the sentiment, stating how “proud” she is of so-called “Bidenomics.”
But Dollar General’s struggles reveal that many Americans are on the brink of years of high prices.
Dollar General CFO Kelly Dilts said the retailer’s typical customer has “started to run out of money by the end of the month.”
The economy could be Kamala Harris’ undoing
Global data retail analyst Neil Saunders told CBS News that claims of a good economy would be news to customers of Dollar General.
“This good news has not yet reached the wallets of Dollar General customers who remain very constrained and cautious,” Saunders said. “They are buying less at Dollar General and are cutting back on more discretionary categories like seasonal and home products.”
Vice President Kamala Harris has tried to distance herself from the Biden economic record on the campaign trail.
But during her first interview since entering the race, she defended the Biden-Harris administration’s economic record.
“And today, we know that we have inflation at under 3%. A lot of our policies have led to the reality that America recovered faster than any wealthy nation around the world,” Kamala claimed.
This recovery would come as news to the shoppers of Dollar General who are struggling to make ends meet.
Shoppers are having trouble affording Dollar General in the Biden-Harris economy.
Former President Donald Trump has been hammering Kamala for the high prices she created on the campaign trail.
New Trump ad drop!
Harris vs Harris.
This is the most honest Kamala will ever be. pic.twitter.com/0Y82EDFUDY
— Charlie Kirk (@charliekirk11) August 26, 2024
The strain that consumers are feeling could be the undoing of Kamala Harris’ campaign.
