Wealthier households are flocking to dollar stores, chains whose core customers are America’s poor, as Donald Trump’s tariffs darken US consumer sentiment.
The two biggest operators, Dollar Tree and Dollar General, revealed this week rising inbound traffic from middle- and higher-income households in the first quarter of the year.
Dollar Tree said 2.6mn new customers visited its 9,000 stores in the first quarter, a majority of them from higher income brackets. “We saw a meaningful traffic increase from customers with household incomes of more than $100,000,” chief executive Mike Creedon told analysts on Wednesday.
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