Dollar Tree Inc. reported fourth quarter earnings that came in higher than expected. However, it missed same-store sales growth estimates.
The discount retailer’s adjusted earnings for the three months ending on February 1 came in at $1.79 per share, 4 cents ahead of the Street expectations. The figure, however, is -7.25% lower than the year-ago quarter.
Group net sales increased +1.8% year-over-year to $6.32 billion in the quarter, but fell short of analysts' estimates of a $6.385 billion.
Same store sales rose +0.4% , falling behind analysts’ estimate of +1.7% (Refinitiv survey).
For the full-year, Dollar Tree projects sales in the range of $24.2 billion to $24.66 billion, and earnings of between $4.80 to $5.15 per share