Dollar Tree Inc. (DLTR - Free Report) , one of the leading operators of discount stores, delivered third-quarter fiscal 2016 earnings of 81 cents per share which outperformed the Zacks Consensus Estimate of 79 cents, and rose 65.3% year-over-year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has witnessed an uptrend in the last 7 days.
Revenues: Dollar Tree generated total revenue of $5,001.6 million that inched up 1.1% year over year but fell short of the Zacks Consensus Estimate of $5,061.5 million. Comparable-store sales (comps) increased 1.7% on a constant currency basis.
Outlook: Management forecasts net sales for fiscal 2016 in the band of $20.67–$20.77 billion versus $20.69–$20.87 billion expected earlier. For the fourth quarter, sales are projected in the band of $5.59–$5.69 billion. Comps for both periods are expected to grow in the low single-digit range. Earnings per share are expected to be in the range $3.67–$3.76 for fiscal 2016 compared with $3.67–$3.82 anticipated earlier. The company expects earnings for the fourth quarter to lie in the range of $1.24–$1.33 cents.
Zacks Rank: Currently, Dollar Tree carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Shares increased 9.8% during pre-market trading hours following the better-than-expected bottom-line results.
Check back later for our full write up on Dollar Tree’s earnings report!
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