Dollar Tree posts a disappointing Q4 earnings report
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Dollar Tree Inc is down 8.0% in premarket on Wednesday after reporting disappointing financial results for the fourth quarter.
This is a developing story. Figures missing below will be updated as received!
The stock is being punished also because the discount retailer issued muted guidance for the future. $DLTR forecasts $6.70 to $7.30 of per-share earnings this year on up to $32 billion in net sales.
Analysts, in comparison, were at and billion, respectively. Rick Dreiling – the chief executive of Dollar Tree said in a press release today:
As we look forward in 2024, we’re accelerating our multi-price rollout at Dollar Tree and taking decisive action to improve profitability and unlock value at Family Dollar.
Dollar Tree currently has $1.35 billion remaining in authorised share repurchases. $DLTR is still up more than 30% versus its low in early October of 2023.
Dollar Tree Q4 earnings snapshot
- Lost $1.71 billion that translates to $7.85 per share
- Had $452.2 million loss ($2.04 a share) last year
- Adjusted EPS printed at $2.55 cents as per the earnings report
- Revenue climbed 12% year-over-year to $8.64 billion
- Consensus was $2.65 a share on $8.65 billion in revenue
Dollar Tree now forecasts a low-to-mid-single digit increase in comparable net sales in 2024. According to its CFO Jeff Davis:
While we expect current shrink and mix levels to be a headwind in the first half of the year, we are expecting to benefit from favorable freight rates and moderating headwinds from reduced SNAP benefits throughout the year.
This is a developing story. Check back in a few minutes for more updates!
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