Dollar General posts record sales as bargain stores attract more people anxious about the economy

Dollar General posts record sales as bargain stores attract more people anxious about the economy

Dollar General posts record sales as bargain stores attract more people anxious about the economy

By MICHELLE CHAPMAN, Associated Press Business Writer

Dollar General set a quarterly sales record of $10.44 billion and upgraded its annual profit and sales outlook as Americans tighten their budgets and spend more at bargain stores and off-price retailers amid economic uncertainty.

The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars dented spending by businesses. Consumer spending slowed sharply.

For the period ended May 2, Dollar General’s sales climbed 5% to $10.44 billion from $9.91 billion. That’s better than the $10.29 billion that Wall Street was expecting, according to a poll by Zacks Investment Research.

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