Dollar Tree Slashes FY23 Earnings Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, Dollar Tree, Inc. (DLTR) provided guidance for the second quarter and slashed its earnings guidance for the full-year 2023.

For the second quarter, the company estimates earnings in a range of $0.79 to $0.89 per share on consolidated net sales between $7.0 billion and $7.2 billion, based on a mid-single-digit increase in same-store sales for the combined enterprise.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.22 per share on sales of $7.15 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, the company now projects earnings in a range of $5.73 to $6.13 per share on consolidated net sales between $30.0 billion and $30.5 billion, based on a low to mid-single-digit increase in same-store sales and 3.0 to 3.5 percent selling square footage growth.

Previously, the company expected earnings in a range of $6.30 and $6.80 per share on consolidated net sales between $29.9 billion and $30.5 billion, based on a low to mid-single-digit increase in same-store sales and 3.0 to 3.5 percent selling square footage growth.

The Street is looking for earnings of $6.68 per share on sales of $30.37 billion for the year.

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