Dollar Tree cuts profit target on slowing demand, higher costs; shares slump


Dollar Tree Inc (DLTR.O) on Thursday trimmed its full-year profit forecast after missing quarterly profit estimates, hurt by slowing demand for discretionary items and elevated cost pressures, sending shares of the retailer down more than 14%.

“We are disappointed by another mixed earnings report and the fourth consecutive lowered guidance,” Telsey Advisory Group analyst Joseph Feldman said.

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