Retail News

Dollar store earnings hampered by persistent shipping costs

Reuters 05/27/2021

In their latest quarterly statements, both Dollar Tree and Dollar General said profits are taking a hit from higher transportation costs. Dollar Tree projected that freight costs would impact its share price by as much as 80 cents for the remainder of the year vs. 2020. “With regards to freight, the market conditions have continued to deteriorate since our update in March,” Dollar Tree CFO Kevin Wampler told analysts on a post-earnings call. Mr. Wampler also explained that difficulty filling positions has been driving up the company’s labor costs.

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