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.

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Source Fool.com