Dollar Tree Stock Rises as Q3 Results Top Estimates | Global News Avenue

Dollar Tree (DLTR) shares rose Wednesday morning after the discount retailer reported better-than-expected third-quarter results.

Dollar Tree records $7.57 billion income and $233.3 million net incomeup from $7.31 billion and $212 million a year ago. Analysts polled by Visible Alpha expected revenue of $7.45 billion and $225.5 million, respectively.

The company narrowed its full-year revenue forecast to a range of US$30.7 billion to US$30.9 billion, up from the previous US$30.6 billion. After full year adjustment Earnings per share (EPS) It is expected to be between US$5.31 and US$5.51, which is higher than previous range $5.20 to $5.60.

Family Dollar review progresses, CFO set to depart

Dollar Tree says it A “strategic review” of options The Family Dollar brand, announced in June, “remains on track” but has not set a timetable for completion. Roughly a decade after Dollar Tree acquired the brand, a sale or spinoff remains a possibility.

near $1,000 for “underperforming” families As of the third quarter, Dollar Tree has closed approximately 670 stores and is expected to close an additional 25 stores in the fourth quarter.

also CEO Rick Drelin’s Leave the company Last month, due to health concerns, Dollar Tree said Wednesday CFO Jeff Davis will resign. An external search has begun, and the company said Davis has agreed to remain on Dollar Tree’s file Annual 10-K End of fiscal year 2024.

Dollar Tree shares, which have lost nearly half their value this year as of Tuesday’s close, were up 3.5% in premarket trading.