Dollar Tree sales, earnings top Street; confirms 600 new stores, 1,250 remodels

Dollar Tree reported sales and earnings that topped analysts’ estimates but provided guidance that fell short. Net income totaled $374.5 million, or $1.60 per share, up from $247.6 million, or $1.04 per share in the year-ago period.  Analysts expected earnings per share of $1.42. Sales totaled $6.477 billion, also better than expected, up from $6.287 billion last year. Total same-store sales inched up 0.8%. Same-store sales for Dollar Tree increased 4.7%. Family Dollar same-store sales decreased 2.8%, “compared to a very strong 15.5% increase in the prior year’s first quarter,” the company noted. The banner’s first-quarter same-store sales increase, on a two-year stacked basis, was a strong 12.7% as the Family Dollar brand continues to gain market share with its great value and compelling mix of products.

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