Dollar General raised its sales and profit forecasts today as value-oriented shoppers seek out deals.

Why it matters: Economic uncertainty has nudged consumers of all income levels to seek out savings.

The big picture: With more than 2,000 items for sale at or below $1, Dollar General is benefiting from more affluent shoppers trading down — a trend that has also boosted rival Walmart.

• "Ultimately, customers across all income brackets are coming to Dollar General as they seek value," CEO Todd Vasos said on an earnings call.

By the numbers: Dollar General lifted its same-store sales growth forecast for the full year from a range of 1.5%–2.5% to a range of 2.1%–2.6%.

What to watch: Whether the company can maintain low prices even in the face of increased costs from tariffs.

• "While the landscape remains dynamic, tariffs have begun to result in some price increases, and we will continue to work to minimize them as much as possible," Vasos said.

President Trump today fired Robert Primus, a member of the railroad regulatory board set to consider Union Pacific's proposed $85 billion merger with Norfolk Southern.

Why it matters: The Democrat was the only Surface Transportation Board member to oppose Canadian Pacific and Kansas City Southern's merger four years ago.

What they're saying: Primus plans to challenge his firing, which he called "deeply troubling and legally invalid" in a LinkedIn post.

• "Robert Primus did not align with the President's America First agenda, and was terminated from his position by the White House," White House spokesperson Kush Desai said in an email.

Catch up quick: Primus was nominated by Trump to the bipartisan board in 2020 and unanimously confirmed by a Republican-led Senate.

• He was renominated by President Biden and unanimously confirmed by a Democrat-led Senate in 2022.

State of play: If approved, the Union Pacific-Norfolk Southern deal could reshape U.S. supply chains by creating a transcontinental railroad that aims to coax more shippers to use trains instead of trucks.

Go deeper

🏷️ Best Buy posted its highest same-store sales growth in three years, with a 1.6% increase. But tariffs cast a cloud over the company's outlook, sending its stock downward. (AP)

💊 Walgreens is getting a new CEO: Mike Motz. He previously led U.S. retail for Staples, part of Sycamore Partners, which made the change as it closed its $23.7 billion takeover of the drugstore chain. (Axios)

📺 Peacock agreed to a deal to make its subscription service available for purchase via Amazon's Prime Video channels. It'll cost the same as paying for the service directly from Comcast. (Reuters)

The Labubu craze has led to an enormous increase in wealth for the CEO of its Chinese toymaker, Pop Mart.

💰 Zoom in: Wang Ning, who also owns nearly 50% of the company, was worth about $27.5 billion as of Tuesday, according to the Bloomberg Billionaires Index.

• That was up about $20 billion this year, Business Insider notes.
• He went from the 400th richest person in the world to 79th.

💭 Nathan's thought bubble: Since fads are, by their very definition, fads, I wouldn't blame him if he sells now.