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Dollar Tree stock cratered Wednesday as the discount store chain delivered a disappointing second-quarter earnings report, suffering its worst day on Wall Street in more than two decades.
Shares of Dollar Tree (DLTR) fell to multi-year lows after reporting a double miss in earnings. Inès Durand of @Similarweb says consumer habits don't hold all the blame for the discount retailer's dismal post-earnings performance.
Dollar Tree, Inc. DLTR shares are trading lower after the company reported worse-than-expected second-quarter financial results and cut the outlook.
U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 0.2% on Wednesday.
Shares of Dollar Tree were trading at around $65 a share on Wednesday -- the lowest in more than four years.
The pressure on discount retail stocks continues.
Dollar Tree, Inc. stock has dropped over 50%, presenting a speculative but potentially lucrative buying opportunity despite short-term issues and disappointing guidance. The company's valuation has reset to an attractive level at $65 per share, though growth is under pressure and core customers are impacted by macroeconomic factors. Sales missed estimates, but gross profit increased due to lower freight costs and higher allowances despite challenges like increased theft and higher distribution costs.
Dollar Tree, Inc. (NASDAQ:DLTR ) Q2 2024 Earnings Conference Call September 4, 2024 8:00 AM ET Company Participants Robert LaFleur - Senior Vice President, Investor Relations Mike Creedon - Chief Operating Officer Jeff Davis - Chief Financial Officer Conference Call Participants Michael Lasser - UBS Edward Kelly - Wells Fargo Simeon Gutman - Morgan Stanley Matthew Boss - JPMorgan John Heinbockel - Guggenheim Securities Chuck Grom - Gordon Haskett Paul Lejuez - Citigroup Krisztina Katai - Deutsche Bank Scot Ciccarelli - Truist Securities Operator Greetings. Welcome to the Dollar Tree Second Quarter 2024 Earnings Call.
CNBC's Dominic Chu joins 'Squawk Box' to report on Dollar Tree and Dick's Sporting Goods.
Dollar Tree (DLTR) came out with quarterly earnings of $0.67 per share, missing the Zacks Consensus Estimate of $1.03 per share. This compares to earnings of $0.91 per share a year ago.