Source: Sharecast
Dollar Tree reported adjusted earnings per share of $1.26 for the three months ended 30 April, ahead of the $1.20 expected on the Street. Net sales grew from $4.5bn to $4.64bn, while comparable store sales rose 5.4% year-on-year, better than the 3.78% jump predicted by analysts.
Chief executive Mike Creedon said: "Our strong first quarter performance underscores the progress we’ve made against our strategic priorities and is a clear signal that our customers are responding positively to the changes we are making."
However, looking ahead, Dollar Tree said adjusted earnings per share would likely fall by as much as 50% year-on-year, principally due to the impact of higher tariffs stemming from Donald Trump's ongoing global trade war.
Dollar Tree hiked its FY adjusted EPS range to $5.15 to $5.65, up from $5.00 to $5.50, while FY net sales were now expected to come in between $18.5bn and $19.1bn.
As of 1400 BST, Dollar Tree shares were down 1.52% in pre-market trading at $96.72 each.
Reporting by Iain Gilbert at Sharecast.com