Why Dollar Tree Shares Are Falling Today
Portfolio Pulse from Shivani Kumaresan
Dollar Tree Inc (NASDAQ:DLTR) reported Q2 FY23 sales growth of 8.2% YoY to $7.33 billion, beating the analyst consensus. Same-store sales increased 6.9%, with Dollar Tree and Family Dollar seeing increases of 7.8% and 5.8% respectively. Gross profit for the quarter gained 0.5% YoY to $2.13 billion, but operating income plunged 43.1% to $287.8 million. The company raised its FY23 sales guidance and tightened its EPS outlook. Despite the positive results, DLTR shares are trading lower by 6.67% in premarket trading.
August 24, 2023 | 12:15 pm
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Dollar Tree reported strong Q2 sales growth and raised its FY23 sales guidance. However, shares are down in premarket trading, possibly due to the 43.1% plunge in operating income.
Despite reporting strong Q2 sales and raising its FY23 sales guidance, Dollar Tree's shares are trading lower. This could be due to the significant drop in operating income, which may have concerned investors about the company's profitability.
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