Press release
Dollar Tree, Inc. Reports Results for the Second Quarter Fiscal 2022
~ Diluted Earnings per Share Increased 30.1% to a Second Quarter Company Record of $1.60 ~ ~ Same-Store Sales: Dollar Tree +7.5%; Family Dollar +2.0%;
About this update from Dollar Tree, Inc.
[{"type":"text","content":"\n~ Diluted Earnings per Share Increased 30.1% to a Second Quarter Company Record of $1.60 ~\n~ Same-Store Sales: Dollar Tree +7.5%; Family Dollar +2.0%; Enterprise +4.9% ~\n~ Consolidated Net Sales Increased 6.7% to $6.77 Billion ~\n~ Operating Income Margin Improved 120 Basis Points to 7.5% ~\n~ Company Narrows Fiscal 2022 Revenue Outlook to $27.85 Billion to $28.10 Billion ~\n~ Substantial Acceleration of Family Dollar Investments Will Enhance Long-Term Sustainable Growth and Profitability ~\n~ Company Updates Fiscal 2022 Earnings per Share Outlook to $7.10 to $7.40 ~\n\n CHESAPEAKE, Va.--(BUSINESS WIRE)--\nDollar Tree, Inc. (NASDAQ: DLTR) today reported financial results for its second quarter ended July 30, 2022.\n\n“Our second quarter performance reinforces the relevance of our brands for millions of households pressured by higher costs for food, fuel, rent and more. We delivered increases of 6.7% in sales, 14.2% in gross profit, 25.7% in operating profit and 30.1% in EPS in the face of great macroeconomic uncertainty,” stated Mike Witynski, President and Chief Executive Officer. “We remain keenly focused on our associates, our DC network and supply chain, our value proposition and our technology. We are improving the shopper experience and positioning the Company to deliver long-term profitable growth and attractive returns on capital.”\n\nSecond Quarter Results\n\nConsolidated net sales increased 6.7% to $6.77 billion from $6.34 billion in the prior year’s second quarter. Enterprise same-store sales increased 4.9% on a constant currency basis (or 4.8% when adjusted to include the impact of Canadian currency fluctuations). Comparable store net sales for Dollar Tree increased 7.5% (or 7.4% when adjusted for currency fluctuations). Family Dollar same-store sales increased 2.0%.\n\nGross profit increased 14.2% to $2.12 billion from $1.86 billion in the prior year’s second quarter. Gross margin improved 200 basis points to 31.4%, compared to 29.4% in the prior year’s quarter. This improvement was driven by improved initial mark-on and leverage on distribution and occupancy costs, partially offset by higher freight costs, unfavorable product mix related to a material shift toward lower-margin consumable products, markdowns, and shrink.\n\nSelling, general and administrative expenses were 24.0% of total revenue, compared to 23....