Top U.S. dollar store chains earlier in the week raised their sales expectations for the year as more Americans look for bargains with inflation at a four-decade high, sending shares of the retailers over 13 percent.
Dollar General shares rose 13.71% to close at $222.13 on Thursday. Dollar Tree shares jumped 21.87% to close at $162.80.
Shares of Dollar Tree and Dollar General rebounded from a slide that wiped off almost a fifth of their value last week after huge profit declines at bigger rivals Walmart and Target.
The dollar store chains also reported better-than-expected first-quarter results.
Readers Bureau, Contributor
Edited by Jesus Chan
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