Why Dollar Tree Stock Is Soaring Today
Shares of discount retailer Dollar Tree (NASDAQ: DLTR) traded 11.5% higher at 3 p.m. ET on Tuesday, following a solid third-quarter earnings report and an important business strategy update.
Dollar Tree saw top-line sales rise 3.9% year over year to $6.42 billion. Earnings per share (EPS) fell from $1.39 to $0.96, but sales and earnings figures both exceeded Wall Street's consensus estimates. Your average analyst firm would have settled for EPS of $0.95 on sales in the neighborhood of $6.41 billion.
Looking ahead to the holiday quarter, management posted earnings guidance in line with the current Street view, but the midpoint of Dollar Tree's revenue target range stopped at $7.1 billion, far ahead of the consensus $6.41 billion estimate.
Source Fool.com
