Dollar Tree (DLTR) experienced a significant 14.21% decline, marked by a red downward-pointing triangle.

Operating approximately 16,700 locations, including the Family Dollar chain, the company announced plans to shutter nearly 1,000 Family Dollar stores over the coming years, grappling with challenges such as merger integration, inflation pressures, and rampant store theft.

Chief Executive Rick Dreiling attributed Family Dollar’s struggles to adverse macroeconomic conditions, emphasizing the escalating levels of inventory shrinkage and theft.

Despite these hurdles, Dreiling reiterated the potency of a well-managed Family Dollar as a formidable retail format.

Meanwhile, executives at McDonald’s (MCD) also reported a 3.89% decrease, signaled by a red downward-pointing triangle, on Wednesday, the Wall Street Journal reported.

They highlighted a trend of cash-strapped consumers retreating in 2024. Ian Borden, McDonald’s finance chief, noted that lower-income consumers, having depleted their savings, are shifting towards grocery stores over dining out.

“Some of those consumers are just choosing to eat at home more often,” Borden remarked at an investor conference.

Written by B.C. Begley