Dollar General (DG) is in the midst of a historic tumble in its share price. Since DG stock closed out November 2022 at $255.68, the downscale retail
DG stock has been tracking lower over the past week since missing Q2 consensus.On the monthly chart, the next Fibonacci level that could work as support is near $108.is in the midst of a historic tumble in its share price. Since DG stock closed out November 2022 at $255.68, the downscale retailer has lost more than 50% of its market cap.
Management blamed losses on a heavier than normal wave of theft, or “shrink” in the industry jargon, and plummeting margins. A good deal of the margin contraction came due to higher inventories that did not get worked off the books as fast as planned. “We are frustrated by the magnitude of pressure on profits related to high inventory clearance and shrink, as well as investment spending, including retail labor hours and permanent smart teams to improve operations and service levels in the stores,” brokerage firm Telsey Advisory Group wrote in a client note after the Q2 results, downgrading DG stock from Outperform to Market Perform.
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