Dollar Tree (NASDAQ: DLTR) fell more than 3% Wednesday after the company reported earnings ahead of the opening bell.
The discount store company (NASDAQ: DLTR) announced earnings per share of $2.01, with revenue coming in at $7.08 billion.
While earnings per share beat the analyst consensus of $1.78, Dollar Tree's revenue was a miss, with analysts expecting $7.12 billion in revenue.
We delivered comparable sales increases at Dollar Tree and Family Dollar, both representing improvements from the prior quarter on a two-year stack basis. Our EPS of $2.01 exceeded our $1.69 to $1.79 guidance range,” stated Michael Witynski, President and Chief Executive Officer.
“Importantly, we recently completed a successful conversion to a $1.25 price point across all Dollar Tree stores in the U.S., more than two months ahead of schedule, which significantly enhances our ability to provide a meaningful assortment at extreme value to our shoppers,” added Witynski.
The company estimates revenue for the first quarter of 2022 will range from $6.63 billion to $6.78 billion. Earnings per share for the quarter are forecast to be between $1.95 to $2.10.
Revenue for full-year fiscal 2022 is expected to be between $27.22 billion to $27.85 billion. The company sees its earnings per share for the year between $7.60 to $8.00.
Dollar Tree also plans to open 590 new stores and renovate 800 Family Dollar stores in 2022. The new stores are expected to consist of 190 Dollar Tree stores and 400 Family Dollar stores.
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