Reporting a full quarter of results including Family Dollar sales for the first time, Dollar Tree said sales soared by 136% to $4.95 billion, with comparable-store sales increasing by 2.1%, or 1.7% when adjusted for Canadian currency.
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Dollar Tree Incorporated most recently announcied its earnings on 2015-09-01. Family Dollar’s growth was no included in Dollar Tree’s 2.1% increase in same store sales.
Analysts on average had expected revenue of $4.84 billion, according to Thomson Reuters I/B/E/S. The shares were sold at an average price of $66.31, for a total value of $387,648.26.
Dollar Tree’s stock price rose 6.2% to 73.84 in midday trading on the stock market today. The company has a total market capitalization of $16.97 million. Also, Director Conrad M. Hall purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. (NASDAQ:DLTR) is expected to report earnings per share for the current fiscal quarter of $0.54. MKM Partners reaffirmed a buy rating and issued a $86.00 target price on shares of Dollar Tree in a report on Friday, November 20th. Dollar Tree completed its acquisition of Family Dollar on July 6 creating a retailer with 13,600 stores.
Net earnings were $91 million, or $0.70 per diluted share, compared with $99 million, or $0.76 per diluted share, when excluding a pre-tax charge of $94 million, or $61 million and $0.47 per diluted share after-tax, on the extinguishment of debt related to prepaying $400 million of long-term debt (see “Non-GAAP Measures”); and the year-over-year decline reflected the lower sales and higher selling, general and administrative expenses partly offset by a higher gross margin. Earlier the company forecast sales of $15.30 billion to $15.52 billion for the year, based on a low single-digit increase in same-store sales. The management hopes to end the year with earnings per share of $2.32-2.51 and revenue in between $15.45 billion and $15.55 billion.
The company shares have rallied 1.29% from its 1 Year high price. The disclosure for this sale can be found here.
Dollar Tree, Inc. (NASDAQ:DLTR) is an operator of discount variety stores offering merchandise at the fixed price of $ 1.00. JPMorgan Chase & Co. restated an “overweight” rating and issued a $90.00 target price on shares of Dollar Tree in a report on Friday, November 6th. Its domestic purchases include basic, seasonal, closeouts and promotional merchandise.
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Another priority, Dollar Tree has said, is improving the product selection at Family Dollar stores, or eliminating products that don’t meet its sales and profitability requirements. The Company’s variety merchandise includes toys, durable housewares, gifts, party goods, greeting cards, softlines and other items.
