DLTR - Why Did Dollar Tree Stock Drop 21% in August?
2023-09-08 18:23:13 ET
Shares of Dollar Tree (NASDAQ: DLTR) fell 20.5% last month, according to S&P Global Market Intelligence . The company beat Wall Street's estimates for both revenue and earnings, but investors were worried about the discount retailer's commentary on consumer behavior moving forward.
Dollar Tree reported a respectable 7% growth in same-store sales, a metric that controls for store openings and closures to provide a more clear picture of location-level performance. Its overall sales growth rate was even higher, and it topped consensus analyst estimates. Dollar Tree also performed well in terms of profits, with earnings per share (EPS) of $0.91 that was four cents higher than expected.
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Why Did Dollar Tree Stock Drop 21% in August?