Dollar Tree misses 3Q profit forecasts
CHESAPEAKE, Va. (AP) — Dollar Tree Inc. (DLTR) on Tuesday reported fiscal third-quarter net income of $81.9 million.
On a per-share basis, the Chesapeake, Virginia-based company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs, came to 49 cents per share.
The results fell short of Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The discount retailer posted revenue of $4.95 billion in the period, surpassing Street forecasts. Ten analysts surveyed by Zacks expected $4.84 billion.
For the current quarter ending in January, Dollar Tree said it expects revenue in the range of $5.32 billion to $5.42 billion.
The company expects full-year revenue in the range of $15.45 billion to $15.55 billion.
Dollar Tree shares have fallen 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 1 percent. The stock has risen nearly 5 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DLTR at http://www.zacks.com/ap/DLTR
Keywords: Dollar Tree, Earnings Report