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Dollar Tree Trades Higher On Q2 Sales Beat

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Dollar Tree Trades Higher On Q2 Sales Beat

Dollar Tree (NASDAQ: DLTR) reported second-quarter earnings of 76 cents per share, which missed the analyst consensus estimate of 81 cents by 6.17%. This is a 33.91% decrease over earnings of $1.15 per share from the same period last year.

The company reported quarterly sales of $5.74 billion, which beat the analyst consensus estimate of $5.71 billion by 0.53%. This is a 3.87% increase over sales of $5.526 billion the same period last year.

See Also: Dollar General Trades Higher On Q2 Earnings Beat

"The turnaround of the Family Dollar business continues to gain momentum. Family Dollar's same-store sales increase of 2.4% was the third consecutive quarter of sequential acceleration and represented a 160 basis point improvement in the two-year stacked comp," said CEO Gary Philbin.

"And, despite sales headwinds created by the global helium shortage, the Dollar Tree segment delivered a same-store sales increase of 2.4%, while cycling a strong 3.7% increase from the prior year's quarter. Dollar Tree has now delivered 46 consecutive quarters of positive same-store sales, and eight consecutive quarters with two-year stacked comps exceeding 6%."

Dollar Tree shares were trading up 6.4% at $106 in Thursday's pre-market session. The stock has a 52-week high of $113.38 and a 52-week low of $78.78.

Posted-In: Earnings News Pre-Market Outlook Best of Benzinga

 

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