Why Dollar Tree Stock Just Got Chopped 10%
Tim-berrrr! Shares of Dollar Tree (NASDAQ: DLTR) stock are tumbling 10.4% as of 9:55 a.m. EDT Thursday after the retail chain reported a mixed quarter featuring better-than-expected earnings but worse-than-expected sales.
Heading into the second quarter, analysts had forecast Dollar Tree would earn $1.01 per share -- and management beat that, reporting $1.23 per share instead. The problem is, sales that were supposed to come in at $6.44 billion turned out to be only $6.34 billion instead.
Cue sell-off.
Source Fool.com
