Dollar Tree reports Q3 EPS $1.08, consensus $1.13
Reports Q3 revenue $5.75B, consensus $5.74B. Reports Q3 SSS up 2.5%; SSS for the Dollar Tree segment increased 2.8% and SSS for the Family Dollar segment increased 2.3%. "The third quarter represented another period of solid sales performance for both brands, Dollar Tree and Family Dollar. Our store optimization efforts and sales driving initiatives are working. The teams have completed more than 1,150 Family Dollar H2 renovations, nearly 200 Dollar Tree re-banners, more than 1,000 Dollar Tree Snack Zones and launched our Dollar Tree Plus! test already this year," stated Gary Philbin, President and CEO. "Fiscal 2019 has been a unique year as the result of several factors: the material acceleration in our Family Dollar store optimization initiatives, the consolidation of our two store support centers into southeast Virginia, the global helium shortage, and the continued uncertainty regarding trade and the related tariffs. I am proud of our team's efforts and the sales execution through this environment. The value and convenience offered by Dollar Tree and Family Dollar continue to resonate with our shoppers, as demonstrated by the company's sales performance in the first three quarters of fiscal 2019," Philbin added. "With several critical initiatives now behind us, including the acceleration in store optimization initiatives and the consolidation of our store support centers, we are planning for more than 1,000 Family Dollar H2 renovations for fiscal 2020 and are increasing our focus on operating margin performance. Our teams are well prepared for the holiday season and closing out an important year for our company. We believe we have built a strong foundation to enhance our ability to grow and improve our business to deliver long-term value to our shareholders."