(Reuters) – Greenback Common Corp (NYSE:) on Thursday missed market estimates for quarterly same-store gross sales as Individuals curtailed discretionary spending amid stubbornly excessive inflation, and winter storm Elliott precipitated harm to its stock.

The low cost retailer chain, like many different U.S. retailers, has seen a slowdown in demand for discretionary merchandise comparable to houseware and attire in favor of extra need-based consumable items.

In February, Greenback Common forecast annual revenue beneath expectations after chopping its earnings estimate for the vacation quarter on heavy reductions, increased prices and stock harm as a consequence of winter storm Elliott, which hit a number of U.S. states in December.

On Thursday, the corporate additionally reiterated its full-year same-store gross sales and revenue forecasts.

The low cost retailer chain’s same-store gross sales rose 5.7% within the fourth quarter, in contrast with analysts’ common estimate of a couple of 6% enhance, in response to Refinitiv IBES knowledge.