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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Dollar Tree Inc | NASDAQ:DLTR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.95 | 0.79% | 120.73 | 117.37 | 120.91 | 121.27 | 119.95 | 120.13 | 1,471,111 | 01:00:00 |
By Michael Calia
Dollar Tree Inc. offered a downbeat outlook for the new year as the discount retailer works toward closing its deal to buy fellow low-cost chain Family Dollar Stores Inc.
Still, the company's results for the most recent quarter edged expectations.
Dollar Tree said it expects to post $3.30 to $3.50 a share in earnings, along with $9.21 billion to $9.45 billion in net sales, for the new year. Analysts polled by Thomson Reuters were expecting $3.57 a share and $9.4 billion in revenue for the year.
Dollar Tree's $8.5 billion deal to buy Family Dollar is awaiting approval from the Federal Trade Commission, and it said Wednesday that it is working to close the deal by April 27.
Dollar Tree had warned earlier this month that the FTC is reviewing more than 500 stores involved in the Family Dollar deal. Dollar Tree, likewise, has said it expected to divest about 300 stores, a much smaller number than the divestitures that were projected if Dollar General Corp. had succeeded in its unsolicited, $9.1 billion bid for Family Dollar.
Dollar Tree said Wednesday that it still believes the FTC will require the company to divest no more than about 300 stores, and it hopes that it hopes to reach a deal on divestitures early next month.
Same-store sales rose 5.6% in the quarter on a constant-currency basis. The number of transactions rose 5%.
For the period ended Jan. 31, Dollar Tree posted a profit of $206.6 million, or $1 a share, down from $213 million, or $1.02 a share, a year earlier.
Excluding certain items, the company posted earnings of $1.16 a share in the most recent quarter.
Net sales improved 11% to $2.48 billion. Analysts had projected $1.15 a share in earnings and revenue of $2.47 billion.
For the current quarter, Dollar Tree said it expected to post 69 cents to 74 cents a share in earnings and $2.15 billion to $2.20 billion in net sales. Analysts were projecting 76 cents a share and $2.21 billion in revenue.
Write to Michael Calia at michael.calia@wsj.com
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