While reporting financial results for the third quarter on Tuesday, Dollar Tree, Inc. (DLTR) provided guidance for the fourth quarter and raised its outlook for the full-year 2022.<\/p>\n
For the fourth quarter, the company estimates earnings in a range of $1.69 to $1.79 per share on consolidated net sales between $7.02 billion and $7.18 billion, based on a low single-digit increase in same-store sales for the combined enterprise.<\/p>\n
On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $1.75 per share on sales of $7.03 billion for the quarter. Analysts’ estimates typically exclude special items.<\/p>\n
Looking ahead to fiscal 2021, the company now projects earnings in a range of $5.48 to $5.58 per share on consolidated net sales between $26.25 billion and $26.41 billion, based on a low single-digit increase in same-store sales and 3.3% square footage growth.<\/p>\n
Previously, the company expected earnings in a range of $5.80 and $6.05 per share on consolidated net sales between $26.19 billion and $26.44 billion, based on a low single-digit increase in same-store sales and 3.4% square footage growth.<\/p>\n
The Street is looking for earnings of $5.59 per share on sales of $26.26 billion for the year.<\/p>\n
The company also announced the addition of a $1.25 price point for all Dollar Tree stores across the U.s. by the end of the first quarter of fiscal 2022. This new pricing strategy will enable the Company to reintroduce many customer favorites and key traffic-driving products that were previously discontinued due to the constraints of the $1.00 price point.<\/p>\n
The company said the continuing expansion of its key strategic initiatives, including Dollar Tree Plus, Combo Stores and the H2 format, are all going well and on, or ahead of, plan.<\/p>\n
For the third quarter, net income declined to $216.8 million or $0.96 per share from $330.0 million or $1.39 per share in the prior-year quarter. Consolidated net sales for the quarter increased 3.9 percent to $6.42 billion from $6.18 billion in the same quarter last year. Enterprise same-store sales increased 1.6 percent.<\/p>\n
Analysts expected earnings of $0.96 per share on sales of $6.41 billion for the quarter. <\/p>\n