Diamonds and Dogs

6/1/23

People are still spending on their pets. Pet retailer, Chewy (CHWY) is jumping 25% after easily beating estimates, returning to profitability while sales rose 14%. Chewy also raised estimates as consumers continue to spend for their quality and value brands.

Dollar General (DG) takes a hit on economic woes. The discount retailer is down 20% after slashing annual profit forecasts due to lower-income shoppers struggling in these economic times. Consumers are shifting their spending to basic goods and cutting back on discretionary purchases.

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