Home » Dollar Tree cuts earnings outlook after Q2 accounts are released

Dollar Tree cuts earnings outlook after Q2 accounts are released

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US discount chain Dollar Tree reported consolidated net sales up 6.7% to $ 6.77 billion in the second quarter.

Net sales of comparable stores increased by 7.5%.

Net income increased 27.4% to $ 359.9 million and diluted earnings per share increased 30.1%, a new company record of $ 1.60.

“Our second quarter performance reinforces the relevance of our brands to millions of households under pressure from higher costs for food, fuel, rent and more,” said Mike Witynski, president and chief executive officer.

Consolidated net sales for the year are expected to settle from $ 27.85 billion to $ 28.10 billion, with comparable sales slightly higher offset by slightly reduced square footage growth from previous prospects.

Full-year diluted earnings per share is expected to be between $ 7.10 and $ 7.40, which represents a 25% year-over-year improvement.

“We expect the combination of this price investment in our Family Dollar chain and the increased focus of shoppers on need-based consumer products will put pressure on gross margins in the second half of the year,” the CEO explained. consequently our prospects for earnings per share ”.

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