Thursday, December 1, 2016

Lower grocery prices, food stamp cuts hit Dollar General results

The sign outside the Dollar General store in Westminster, Colorado is pictured December 4, 2014. REUTERS/Rick WilkingDiscount retailer Dollar General Corp reported a surprise drop in quarterly comparable sales and tempered its full-year profit forecast, hit by lower grocery prices and reduced food stamp coverage in several U.S. states.

Food prices have fallen in the past few months due to low oil and grain prices as well as intense competition in the sector, resulting in aggressive price cuts by Wal-Mart Stores Inc and other food retailers.. . . more

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