Dollar Tree, Inc. (NASDAQ: DLTR) reported third quarter 2023 earnings results today.
Consolidated net sales increased 5.4% year-over-year to $7.31 billion. Enterprise same-store sales grew 3.9%.
Net income was $212 million, or $0.97 per share, compared to $267 million, or $1.20 per share, last year. Adjusted EPS was also $0.97.
Both the top and bottom line number missed estimates, causing the stock to drop 4% in premarket hours on Wednesday.
Dollar Tree expects consolidated net sales for the fourth quarter of 2023 to range between $8.6-8.8 billion, based on a low-single-digit increase in same-store sales for the enterprise. EPS is expected to be $2.58-2.78.
For full-year 2023, consolidated net sales are now expected to range between $30.5-30.7 billion. The company expects to deliver a mid-single-digit comparable store net sales increase for the year. EPS is expected to be $5.81-6.01.