MW: Dollar Tree shares tumble as sales fall short of estimates
Dollar Tree Inc. shares DLTR, -1.69% slumped 6.4% in premarket trade Tuesday, after the retailer missed sales estimates for the fourth quarter. The company said it had net income of $229 million, or 97 cents a share, in the quarter, compared with $206.6 million, or $1.00 a share, in the year-earlier period. Adjusted per-share earnings came to $1.16, ahead of the FactSet consensus of $1.07. Sales rose to $5.27 billion from $2.48 billion, but were below the FactSet consensus of $5.41 billion. The company said it now expects first-quarter EPS of 75 cents to 83 cents, and sales of $5.05 billion to $5.12 billion. The FactSet consensus is for first=quarter EPS of 81 cents and sales of $5.09 billion. Shares have gained 0.4% in the last 12 months, while the S&P 500 is down 8%.
