Dollar Tree’s Sales Turn Lower as Consumers Skip Easter Shopping
In an update on its operations amid the COVID-19 pandemic, Dollar Tree (NASDAQ: DLTR) announced generally strong sales through March that were nonetheless impacted by a dramatic demand slump for seasonal Easter merchandise.
The value retailer said on Tuesday that demand has been "unprecedented" for things like cleaning supplies, paper goods, sanitizers, food, and over-the-counter medicine. This spike pushed sales higher by 7% in its Dollar Tree locations and by 14% at Family Dollar as shoppers stocked up on essentials through most of March.
Trends turned sharply lower at the Dollar Tree brand in the past week, though, falling 19% as the traditional Easter season shopping lift never materialized.
Source Fool.com
