Dollar Tree (NYSE: DLTR) reported second-quarter financial results before the opening bell on Thursday. The discount store reported a 9.4% increase in Q2 revenues to $6.28 billion, beating Wall Street consensus. Net earnings of $1.10 per share also handsomely surpassed what analysts had anticipated.
DLTR shares fell 6% immediately following the announcement. The stock has increased by 11% so far this year.
CEO Mike Witynski said, “At Dollar Tree, we were pleased to see a nice bounce back in the higher margin discretionary side of the business following Easter; and the expanded Crafter’s Square assortment continues to perform very well. At Family Dollar, we continue to gain traction as we had a material improvement in the discretionary side of the business, another quarter of double-digit same-store sales, a 390 basis point improvement in gross margin and a 470 basis point increase in operating profit margin.”
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
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