MW: Dollar Tree shares rise after earnings beat expectations
Dollar Tree Inc. DLTR, -3.62% shares rose 6.3% in Wednesday premarket trading after the discount retailer reported fourth-quarter earnings and sales that beat estimates. Net income was $321.8 million, or $1.36 per share, up from $229.0 million, or 97 cents per share, last year. The FactSet consensus was $1.32 per share. Sales were $5.64 billion, up from $5.37 billion last year and ahead of the $5.62 billion FactSet consensus. Same-store sales for the quarter rose 1.2%, with Dollar Tree same-store sales increasing 2.3% and Family Dollar same-store sales rising 0.2%. The FactSet consensus was a 1.8% rise. The company sees first-quarter sales in the range of $5.26 billion to $5.35 billion, and a flat to low-single-digit increase in same-store sales. FactSet sees sales of $5.32 billion. EPS is expected to be in the range of 91 cents to 98 cents, below the $1.11 FactSet consensus. Dollar Tree shares are down 6.5% for the past year while the S&P 500 index SPX, -0.26% is up 19.5% for the same period.