by Christopher Freeburn | August 16, 2012 11:47 am
Dollar Tree (NASDAQ:DLTR) announced on Thursday that it earned $119.2 million during the second quarter, up 26% from $94.9 million in the same period last year.
The discount retailer said sales for the quarter increased to $1.70 billion, up 10.5% from 2011. But that missed Wall Street forecasts of $1.77 billion, Reuters noted. EPS of 51 cents also fell short of the 52 cents a share that analysts had expected.
The company also issued weak guidance for Q3, with expected revenues of $1.71 billion to $1.75 billion and earnings per share of 47 cents to 51 cents shy of analyst expectations.
Shares of Dollar Tree fell more than 4% in Thursday morning trading.
The company said same-store sales, at outlets open at least 12 months, increased 4.5% over last year. Wall Street had estimated same-store sales gains of 2.9%.
Yesterday, Wal-Mart (NYSE:WMT) reported second-quarter earnings that topped Wall Street forecasts, but missed estimates on revenue. Other discount retailers, including Target (NYSE:TGT) and Kohl’s (NYSE:KSS) beat analysts’ predictions for quarterly earnings.
Source URL: http://investorplace.com/2012/08/dollar-tree-misses-forecasts-shares-drop/
Short URL: http://invstplc.com/1fvRDUe
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.