Dollar Tree to sell alcohol at 1,000 stores across U.S.
Jun 03 2019
The company also noted that it planned to shutter as many as 290 underperforming Family Dollar stores, mostly during Q2, and that it meant to rebanner about 200 of the stores to the Dollar Tree brand in fiscal 2019. As the income gap between rich and poor continues to grow, dollar and 99 cent stores have become increasingly popular in both urban and rural America. Dollar Tree CEO Gary Philbin also told Fox Business that he also expects 500 stores (between Family Dollar and Dollar Tree) to open in 2019. I know for a fact I would have to contemplate what I would absolutely need to bring home and leave behind.
USA Today reported plans to expand party goods sections and test higher-priced products at its exclusive $1 locations. EPS = earnings per share. The company reported $1.14 earnings per share (EPS) for the quarter, hitting the Zacks' consensus estimate of $1.14.
Dollar Tree's acquisition of Family Dollar locations hasn't had the desired impact, resulting in disappointing sales.
Dollar Tree segment same-store sales rose 2.4%, while Family Dollar segment same-store sales rose 1.9%.
Dollar General maintained its fiscal 2019 guidance even after reporting strong growth. Dollar Tree's Q1 earnings and revenue surpassed analysts' projections.
Dollar Tree is implementing the first phase of a test of multiple price points in its Dollar Tree branded segment (which now maintains $1 price points throughout each location). Management also said that the Family Dollar turnaround was gaining traction, and that operating margin would improve in the second half of the year as it capitalizes on recent investments. The company had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.78 billion.
Several retailers including Walmart Inc, Best Buy, Macy's and Ralph Lauren have also said that rising tariffs could impact their results this year.