Discount retailer Dollar General (DG) is seeing its shares dive this morning as the chain cuts its full-year forecast and warns on the lasting impact of inventory shrink, or retail theft. Telsey Advisory Group Analyst Joe Feldman joins Yahoo Finance Live to discuss the consumer environment for Dollar General and its discount retail peers Dollar Tree (DLTR) and Five Below (FIVE). 'I think the surprise for me is on the top line,' Feldman says, comparing Dollar General to its discount and dollar store competitors. 'So even though some of those others have taken down their guidance for the full year, it was really more because of the increase in shrinkage related to the profitability pressure. It wasn't because of sales. That's a bit more concerning here with Dollar Tree, that the sales are a bit tougher.' Feldman also comments on back-to-school drivers boosting discount retailers.
Discover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023.BENGALURU -The Bank of Canada is expected to hold its key interest rate steady at 5.00% on Sept. 6 and stay at that level through at least the end of March 2024, according to a majority of economists in a Reuters poll, with a small but growing minority expecting one more rate rise.
The housing market, where prices surged about 50% during the coronavirus pandemic and have fallen only about 10% from their peak, is also showing signs of a revival, with forecasters in a separate Reuters poll raising price expectations for this year. For the time being, an expected slowdown in economic growth to 1.1% in the second quarter and a rise in the jobless rate gives Bank of Canada policymakers plenty of room to leave interest rates unchanged next week.
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