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Dollar Tree Q2 adj EPS 0.91 usd, down 43.1%
Now sees FY adj EPS 5.20-5.60 usd (Il Sole 24 Ore Radiocor) - New York, 04 Sep - The US discount retailer Dollar Tree said that in the second quarter ended August 3 diluted earnings per share (EPS) fell 31.9% to 0.62 dollars and adjusted diluted EPS declined 26.4% to 0.67 dollars.
Diluted and adjusted diluted EPS include 0.30 dollars of costs related to general liability claims.
Net sales rose 0.%% to 7.37 billion dollars.
Same-store net sales were up 0.7% for the group, with the Dollar Tree banner up 1.3% and Family Dollar down 0.1%.
'Our adjusted EPS of 0.67 dollars was 0.38 dollars below the midpoint of our previous outlook range. While the vast majority of this variance was attributable to an adjustment of our general liability accrual, a portion was attributable to a comp shortfall which reflected the increasing effect of macro pressures on the purchasing behavior of Dollar Tree's middle- and higher-income customers," said the chief financial officer, Jeff Davis.
'We are updating our full-year outlook to reflect second quarter results, including the general liability charge, a more conservative sales outlook at Dollar Tree for the balance of the year, and incremental start-up costs associated with the conversion of our recently acquired portfolio of 99 Cents Only Stores leases,' he added.
Dollar Tree now sees 2024 net sales of 30.6-30.9 billion dollars. The Company expects to deliver comparable store net sales growth in the low-single-digits for the enterprise and both the Dollar Tree and Family Dollar segments.
Adjusted diluted EPS is expected to range from 5.20-5.60 dollars.
In the third quarter, the company expects consolidated net sales of 7.4-7.6 billion dollars, based on comparable store net sales growth in the low-single-digits for the enterprise and both the Dollar Tree and Family Dollar segments.
Adjusted diluted EPS for the third quarter 2024 is estimated to be 1.05-1.15 dollars.
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(RADIOCOR) 04-09-24 19:05:04 (0549) 5 NNNN