Ticker: Even bargain chains see spending pullback; Atlantic City casino workers plan ad blitz to ban smoking
Dollar Tree is slashing its full-year earnings and sales forecasts as its customers continue to struggle with higher prices and spend less.
Shares tumbled more than 20% Wednesday after hitting a 52-week low on the prior day. The biggest one-day sell-off for Dollar Tree shares in more than 20 years arrived less than a week rival bargain chain Dollar General reported a dismal quarter and suffered its largest single-day slump ever.
Dollar Tree has been trying to lure customers from other retailers using its rock-bottom prices, but juggernauts like Walmart and Target have also said their customers are under pressure and they’re cutting prices, too.
Atlantic City casino workers plan ad blitz to ban smoking after court rejects ban
group of Atlantic City casino workers seeking to ban smoking in the gambling halls will launch an advertising campaign featuring their children in response to a judge’s rejection of a lawsuit that would have ended smoking in the nine casinos.
The workers, calling themselves Casino Employees Against Smoking Effects, said Wednesday the digital ads will target the districts of state lawmakers who have the power to advance pending legislation that would ban smoking in the casinos.
And a labor union that brought the unsuccessful lawsuit said it would withdraw from the state AFL-CIO over the issue, saying the parent labor group has not supported the health and safety of workers.