Dollar Tree Evaluates Family Dollar's Fate After Mixed Q1 Results; Stock Slides
Portfolio Pulse from Shivani Kumaresan
Dollar Tree Inc (NASDAQ:DLTR) reported mixed Q1 FY24 results, with sales growth of 4.22% and adjusted EPS beating estimates. The company announced a review of strategic alternatives for its Family Dollar segment, which could include a sale or spin-off. Despite reaffirming its FY24 net sales outlook, Dollar Tree lowered its adjusted EPS guidance due to increased expenses. DLTR shares are down 3.49% in premarket trading.
June 05, 2024 | 11:58 am
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Dollar Tree Inc reported mixed Q1 FY24 results with sales growth of 4.22% and adjusted EPS beating estimates. The company is reviewing strategic alternatives for its Family Dollar segment, which could include a sale or spin-off. Despite reaffirming its FY24 net sales outlook, Dollar Tree lowered its adjusted EPS guidance due to increased expenses. DLTR shares are down 3.49% in premarket trading.
The mixed earnings report, combined with the strategic review of the Family Dollar segment and lowered EPS guidance, has led to a negative market reaction, causing DLTR shares to drop 3.49% in premarket trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100