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.”
Prior performance
Most Popular
360 DigiTech (NASDAQ: QFIN) Q3 2021 Research Summary
The positive effects of widespread digitalization and e-commerce growth on China’s financial services industry became more pronounced during the pandemic as the movement restrictions drove more retail customers to online
Activision Blizzard (ATVI): Three reasons why this stock deserves to be on your radar
Shares of Activision Blizzard Inc. (NASDAQ: ATVI) were up 1.6% on Thursday. The stock has dropped 14% since the start of the year. The company has been in the news
IPO Alert: Here’s all you need to know about Remitly Global’s upcoming market debut
The emergence of technology-driven financial services is making people think beyond conventional banks when it comes to availing loans and transferring funds. In a move aimed at taking its business
