Dollar Tree shares plunge after company misses on earnings, slashes full-year profit outlook
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Shares of Dollar Tree plunged more than 16% in intraday trading Thursday after the company fell short of Wall Street's earnings expectations for the most recent quarter and slashed its profit outlook for the full year. The stock closed about 12% lower at $136.66 a share. Here's how the discounter did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv: Earnings per share: $1.47, adjusted, vs. $1.52 expected Revenue: $7.32 billion vs. $7.28 billion expected The company's reported net income for the three-month period that ended April 29 was $299 million, or $1.35 a share, compared with $536.4 million, or $2.37 a share, a year earlier. On an adjusted basis, the company reported earnings of $1.47 per share, falling below Wall Street projections. Sales rose to $7.32 billion, up from $6.9 billion a year earlier. Same store sales were up 4.8% compared to an expected uptick of 3.6%, according to...