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Dollar stores hit by freight costs as labor squeeze looms
05/27/2021 | 11:39am EDT
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(Reuters) -Top U.S. dollar stores on Thursday gave tepid full-year profit forecasts, weighed down by higher transportation costs, even as a stimulus check-driven boost in spending helped them post better-than-expected quarterly sales.
Dollar Tree Inc s shares dropped about 7%, as it forecast freight costs to be up as much as 80 cents per share for the rest of the year, compared with 2020.
Increasing freight costs caused by port congestions and global supply-chain disruptions have dented profit outlooks across industries, including that of apparel sellers Abercrombie & Fitch Co as well as many U.S. packaged goods makers. ....

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