Dollar Tree Lifts Outlook As Millions More Shoppers Drive Higher Sales And Earnings Across Income Levels

Benzinga

Dollar Tree raised its full-year profit outlook after strong Q3 results, driven by nearly 3 million new households shopping at its stores — with 60% from incomes above $100,000. Lower-income shoppers increased their spending the fastest. Comparable sales rose 4.2%, revenue hit $4.75B, and adjusted EPS came in at $1.21. The company now projects FY sales of $19.35B to $19.45B and EPS of $5.60 to $5.80.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Dollar Tree raised its full-year profit outlook after reporting higher third-quarter sales and

00:08earnings as more shoppers across income levels visited its stores, according to the Wall Street

00:13Journal. The company said nearly 3 million additional households shopped during the quarter,

00:18with about 60% coming from households earning over $100,000. Lower-income households increased

00:24their average spend at more than twice the rate of higher-income shoppers. Comparable sales rose

00:294.2%, and revenue reached $4.75 billion. Adjusted earnings were $1.21 per share. Dollar Tree now

00:38expects full-year sales of $19.35 billion to $19.45 billion, and adjusted earnings of $5.60

00:46to $5.80 per share. For all things money, visit Benzinga.com.

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