Press release
Dollar Tree, Inc. Reports Results for the Second Quarter Fiscal 2023
Same-Store Sales: Dollar Tree +7.8%; Family Dollar +5.8%; Enterprise +6.9% Comparable Transaction Count: Dollar Tree +9.6%; Family Dollar +3.4% Diluted
About this update from Dollar Tree, Inc.
[{"type":"text","content":"\n\nSame-Store Sales: Dollar Tree +7.8%; Family Dollar +5.8%; Enterprise +6.9%\n\n\n\nComparable Transaction Count: Dollar Tree +9.6%; Family Dollar +3.4%\n\n\n\nDiluted Earnings per Share (EPS) $0.91\n\n\n\nIncreasing Fiscal 2023 Sales Outlook Range to $30.6 Billion to $30.9 Billion\n\n\n\nTightening Fiscal 2023 Diluted EPS Outlook Range to $5.78 to $6.08, Including $0.12 per Share Legal Reserve from Q1 2023\n\n\n\n CHESAPEAKE, Va.--(BUSINESS WIRE)--\nDollar Tree, Inc. (NASDAQ: DLTR) today reported financial results for its second quarter ended July 29, 2023.\n\n\n“At our June Investor Conference we shared the details of our strategy to transform the company and unlock the true value of our business, and our second quarter results show us making solid progress against these objectives. Both the Dollar Tree and Family Dollar segments reported strong same-store sales trends, driven by increased traffic and accelerated market share gains,” said Rick Dreiling, Chairman and Chief Executive Officer. “We are delivering on our strategy through the dedication of our 200,000+ associates who are focused on providing an exceptional experience for our customers.”\n\n\n“In the second quarter we continued to generate strong top-line results across both segments. While factors like sales mix and elevated shrink continue to pressure margins, we generated a year-over-year increase in gross profit dollars. We are pleased with the progress of our transformation to date and remain confident in our ability to deliver our growth objective of $10 or more of diluted EPS by 2026,” stated Jeff Davis, Chief Financial Officer.\n\n\nAdditional Business Highlights\n\n\n\nOpened 118 new stores\n\n\n\nExpanded multi-price Plus offering to 715 additional Dollar Tree stores\n\n\n\nAdded $3, $4, and $5 frozen and refrigerated items to 1,645 additional Dollar Tree stores\n\n\n\nCompleted 276 Family Dollar store renovation projects\n\n\n\nEstablished $1.5 billion commercial paper program\n\n\n\nNet cash provided by operating activities increased $189.7 million compared to Q2 2022\n\n\n\nImproved free cash flow by $40.5 million compared to Q2 2022\n\n\n\n\n\nSecond Quarter 2023 Key Operating Results\n\n\n\n\n\n\n\n\n \n\n\n\n\n(Compared to same period fiscal 2022)\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2\n\n\n\n\nFiscal 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\nChange\n\n\n...