Dollar Tree Inc. (NYSE: DLTR) reported its most recent quarterly results before the markets opened on Wednesday. The discount retailer posted $1.93 in earnings per share (EPS) and $6.21 billion in revenue, almost in line with the consensus estimates of $1.93 in EPS on revenue of $6.19 billion. The same period of last year reportedly had EPS of $1.89 and $6.36 billion in revenue.
During the latest quarter, enterprise same-store sales increased by 2.4%. At the same time, same-store sales for the Dollar Tree banner increased 3.2% on a constant currency basis (or 3.1% when adjusted to include the impact of Canadian currency fluctuations). Same-store sales for the Family Dollar banner increased 1.4%.
Overall, the chain opened 143 stores, and closed 84 Family Dollar stores and 10 Dollar Tree stores. Additionally, the firm opened five Dollar Tree stores that were re-bannered from Family Dollar. Retail selling square footage at quarter end was approximately 120.1 million square feet.
Looking ahead to the fiscal first quarter, Dollar Tree expects to see EPS in the range of $1.05 to $1.15 and revenue between $5.74 billion and $5.85 billion. But consensus estimates so far are calling for $1.30 in EPS and $5.81 billion in revenue.
Gary Philbin, president and CEO, commented:
Sales for the quarter were strong. Our results demonstrate the increasing strength of the Dollar Tree brand, and accelerated progress on the Family Dollar turnaround, as Family Dollar delivered its strongest quarterly same-store sales growth of the year.
Shares of Dollar Tree closed Tuesday at $95.47, in a 52-week range of $78.78 to $101.75. The consensus price target is $102.54. Following the announcement, the stock was up over 6% at $101.75 in early trading indications Wednesday.
24/7 Wall St.Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
