Top U.S. Dollar Stores Project Positive Outlook

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.

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Edited by Jesus Chan

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