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Dollar Tree, Inc. (NASDAQ:DLTR) reported worse-than-expected fourth-quarter financial results and issued first-quarter EPS guidance below estimates.
Dollar Tree reported fourth-quarter FY23 sales growth of 11.9% year-on-year to $8.63 billion, missing the analyst consensus estimate of $8.67 billion. Adjusted EPS of $2.55 missed the consensus estimate of $2.65, according to data from Benzinga Pro.
The company opened 219 new stores in the quarter and closed 72 stores. Dollar Tree repurchased 3.9 million shares in the quarter for $504.3 million.
“Our core operating performance was strong in the fourth quarter, despite some unanticipated developments related to general liability claims,” said CFO Jeff Davis.
Dollar Tree said it sees FY24 net sales of $31 billion – $32 billion versus the consensus of $31.65 billion. Adjusted EPS of $6.70 – $7.30 against an estimate of $7.04. The company expects first-quarter net sales of $7.6 billion – $7.9 billion versus the $7.68 billion estimate. Adjusted EPS of $1.33 – $1.48 against the Street view of $1.69.
Dollar Tree shares fell 14.2% to close at $128.42 on Wednesday.
These analysts made changes to their price targets on Dollar Tree after announcing quarterly results
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Posted In: DLTR
