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Dollar Tree’s stock drops after earnings, sales miss expectations amid softer demand

Clyde Edgerton by Clyde Edgerton
November 29, 2023
in Markets
Dollar Tree’s stock drops after earnings, sales miss expectations amid softer demand
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Shares of Dollar Tree Inc. DLTR sank 2.1% in premarket trading Wednesday, after the discount retailer missed fiscal third-quarter earnings and sales expectations, but provided an in-line outlook for the current quarter. Net income for the quarter to Oct. 28 fell to $212.0 million, or 97 cents a share, from $266.9 million, or $1.20 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.01. Total revenue grew 5.4% to $7.31 billion, below the FactSet consensus of $7.40 billion. Same-store sales increased 3.9% to miss expectations of 5.3% growth, as Dollar Tree same-store sales rose 5.4% and…

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