Dollar Tree’s fiscal second-quarter results beat Wall Street’s estimates as the discount retailer experienced strong sales and increased traffic at its stores.
Dollar Tree Inc. earned $200.4 million, or 91 cents per share, for the period ended July 29. A year earlier the Chesapeake, Virginia-based company earned $359.9 million, or $1.60 per share.Revenue totaled $7.33 billion, which was better than Wall Street’s forecast of $7.22 billion.Dollar Tree and Family Dollar agree to take steps to improve worker safety at the bargain stores
“Both the Dollar Tree and Family Dollar segments reported strong same-store sales trends, driven by increased traffic and accelerated market share gains,” Rick Dreiling, chairman and CEO, said in a statement. The company now foresees full-year earnings of $5.78 to $6.08 per share, with revenue between $30.6 billion and $30.9 billion. Its prior guidance was for earnings between $5.73 and $6.13 per share on revenue in a range of $30 billion to $30.5 billion.
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