Article Date 29/05/2020

Here's what booming dollar store sales say about America right now

Source Yahoo Finance Canada

The stock market may be back to being on autopilot, but the U.S. consumer is far from being back to full financial health.

Talk about a major disconnection here. While stocks are in rally mode, sales at America's dollar stores are exploding right now as households endure real financial stress emanating from the COVID-19 pandemic. Dollar General (DG) - which operates 16,500 stores spanning 46 states - said Thursday that first quarter sales exploded 27.6% to $8.4 billion in the first quarter. Same-store sales - a closely watched retail metric that measures sales from stores open longer than a year - boomed 21.7% on the back of strong store traffic and spending on daily essentials.

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