Dollar Tree, Inc. (NASDAQ: DLTR) on Thursday announced second-quarter 2022 financial results, reporting an increase in net profit and sales. The bottom line exceeded estimates by a cent.
The discount store chain reported net sales of $6.77 billion, which is up 6.7% year-over-year but came in below Wall Street’s projection. Total same-store sales rose 4.9%, with the Dollar Tree and Family Dollar segments registering sales growth of 7.5% and 2%, respectively.
Second-quarter net income increased to $359.9 million or $1.60 per share from $282.4 million or $1.23 per share in the prior-year period. Earnings beat the estimates by a small margin.
Check this space to read management/analysts’ comments on Dollar Tree’s Q2 report
“We remain keenly focused on our associates, our DC network and supply chain, our value proposition, and our technology. We are improving the shopper experience and positioning the Company to deliver long-term profitable growth and attractive returns on capital,” said Mike Witynski, chief executive officer of Dollar Tree.