Dollar Tree Reports Higher Than Projected Fiscal Q2 Results

Dollar Tree jumped in premarket trading on Thursday after the operator of discount variety stores reported higher-than-expected profit and sales for its fiscal Q2 and boosted its FY17 outlook. Shares gained as much as 8.8%.

EPS increased 36.1% to $0.98 in the period ended July 29. That beat the $0.87 average estimate of analysts surveyed by Capital IQ. Fiscal Q2 sales increased 5.7% to $5.28 billion. That topped the analyst consensus of $5.23 billion. The company expects fiscal Q3 sales in the range of $5.20 billion to $5.29 billion, and EPS in the range of $0.83 to $0.90. Analysts had projected $5.26 billion in revenue and $0.85 of EPS.

The company raised its FY17 EPS to the range of $4.44 to $4.60, compared to its previous guidance of $4.17 to $4.43. Analysts had forecast $4.45.

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