Shares of Dollar Tree were trading at around $65 a share on Wednesday — the lowest in more than four years.
Dollar Tree ’s stock price plunged by more than 20% on Wednesday after the discount retailer missed quarterly estimates and slashed its annual forecasts — another sign
“Customers are expanding their consumption while contracting their spending on discretionary items because of macro belt-tightening,” Dollar Tree CFO Jeff Davis said on a post-earnings call.Toyota recalls more than 43K vehicles over defectsDollar Tree has been in the process of restructuring its business and in April said it was exploring options, including a potentialEarlier this year, it had outlined plans to shutter 970 Family Dollar stores. As of Aug.
The Chesapeake, Va.-based company expects annual sales between $30.6 billion and $30.9 billion, compared with its prior forecast range of $31 billion to $32 billion.The company sees annual adjusted earnings per share in the range of $5.20 to $5.60, compared with its prior forecast range of $6.50 to $7 per share.
Dollar Tree posted net sales of $7.37 billion, compared with analysts’ estimates of $7.49 billion, according to LSEG data.
Dollar General Dollar Tree Economy Family Dollar Inflation Retail Retailer Retailers Stock Market Wall Street
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dollar General shares crater 20% as retailer cuts outlook, blaming ‘financially constrained' customersThe discount retailer slashed its guidance for full-year same-store sales and profit.
Read more »
Dollar General shares crater 20% as retailer cuts outlook, blaming 'financially constrained' customersThe discount retailer slashed its guidance for full-year same-store sales and profit.
Read more »
Dollar General shares crater 20% as retailer cuts outlook, blaming 'financially constrained' customersThe discount retailer slashed its guidance for full-year same-store sales and profit.
Read more »
Dollar Tree, Dollar General Charging Hidden Cash-Back FeesDana Schulz is an experienced editor, writer, and content strategist who is just as likely to be crunching the latest housing market data as she is to be sharing all the best new kitchen gadgets at Target. She has written about real estate, apartment living, home decor, and history for more than 14 years.
Read more »
Dollar General, Dollar Tree, Kroger charge millions in ‘cash-back’ fees: How they do itWalmart, Target, CVS, and Walgreens offer the service for free.
Read more »
Dollar Tree Shopper Shares Products She'd Rebuy and SkipSince becoming a freelance writer in 2019, Emily has developed significant experience covering viral pop culture moments and trending news topics in the health and wellness space, while also writing about mental health, relationships, and smarter living.
Read more »