Keep an eye on Dollar Tree (DLTR). It’s considered one of the top recession-proof stocks on the market. Also, with inflation showing no signs of cooling off, dollar stores are attracting higher-income shoppers. In fact, management at Dollar General say consumers earning $100,000 per year are helping drive growth as a challenge like inflation bites into their spending power.
Better, DLTR business is booming. Diluted EPS was up 25% to $1.20 in the third quarter. Net sales were up 8.1% year over year to $6.94 billion. Operating income jumped 22.8% to $381.3 million. The company also added another 102 new stores.