DLTR - Why Dollar Tree Stock Was Down Today
2023-08-24 13:54:19 ET
Shares of Dollar Tree (NASDAQ: DLTR) were down by 10% as of 12:12 p.m. ET on Thursday despite the discount retailer reporting fiscal second-quarter earnings that beat Wall Street's consensus estimate.
For the period, which ended July 29, same-store sales were up by 6.9% overall, with comps at its Dollar Tree chain up by 7.8% and the Family Dollar chain up by 5.8%.
Earnings per share came in at $0.91 -- better than the consensus estimate, which had called for $0.87. But the company guided for lower earnings than the Street's estimates, which contributed to the stock's decline on Thursday.
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Why Dollar Tree Stock Was Down Today