Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Wall Street took a moment to catch its breath one day after all three major indices closed at record highs. Airlines traded higher after expectations of a strong holiday travel season from both American and Southwest Airlines.
Looking ahead to Friday, it’s all about the monthly employment report.
Related: Dollar Tree CEO warns of a growing problem despite slowing inflation
Turning to other business headlines, the dollar stores were already feeling the heat from inflation, making it harder to sell stuff for - well - one dollar. Now Trump’s tariff threats will make things even harder for the group.
The head of Dollar Tree, which also owns the Family Dollar franchise, told investors he is “prepared to act on multiple fronts.” Interim CEO Mike Creedon said he’s pulling out the company playbook used the last time Trump hiked tariffs. “Back then, the choices were they could change some of the specs of the product, they could negotiate furiously with our suppliers, or they can eliminate the product all together.” He said all those options are on the table.
Dollar Tree is trying to keep every dollar it can. At $7.56 billion, third-quarter sales were higher than last year. Meanwhile, competitor Dollar General also saw a rise in quarterly sales to $10.2 billion. Its CFO didn’t mention the Trump tariffs by name but said it too has levers to pull to stay competitive, citing “private brands and global sourcing opportunities.”
Walmart, which is both of their biggest competitors, already warned it will likely pass on any price increases from higher tariffs to the consumer.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
More on Retail:
- Amazon accused of concealing a major change to Prime delivery
- Foot Locker sounds the alarm on a concerning customer behavior
- Consumer demand is driving growth in a key auto segment
- Popular liquor company sells vodka brand as spirits market stumbles
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