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Family Dollar Stores

7:32 p.m.

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Macy's Inc.
/zigman2/quotes/208888960/delayed

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13.74

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3:45 a.m. March 3, 2021 - By Tonya Garcia
Dollar Tree reports Q4 sales miss, adds $2 billion to share repurchase programDollar Tree Inc. stock fell 3.1% in Wednesday premarket trading after the discount retailer reported fourth-quarter sales that missed expectations. Net income totaled $502.8 million, or $2.13 per share, up from $123.0 million, or 52 cents per share, last year. Sales totaled $6.768 billion up from $6.315 billion last year. The FactSet consensus was for EPS of $2.12 and sales of $6.804 billion. Same-store sales rose 5%, below the FactSet consensus for for 5.5% growth. Family Dollar same-store sales were up 8.1% while the namesake chain saw same-store sales growth of 2.4%. For fiscal 2021, Dollar Tree plans to open 600 new stores, 400 Dollar Trees and 200 Family Dollars, and renovate 1,250 Family Dollar locations. Dollar Tree has increased its share repurchase plan by $2 billion. Dollar Tree stock has gaine 21% over the past year while the S&P 500 index is up nearly 29%.
11:22 a.m. Aug. 27, 2020 - By Ciara Linnane
Coronavirus update: Global case tally tops 24 million as U.S. tally tops 5.8 million, and CDC head walks back testing change amid outcry In a second embarrassment for a major U.S. public health agency this week, CDC says asymptomatic people exposed to infection can again be testedThe number of confirmed cases of the coronavirus illness COVID-19 worldwide climbed above 24 million on Thursday, and the U.S. tally topped 5.8 million, as the head of the Centers for Disease Control and Prevention walked back a change in guidelines on testing following a storm of criticism from doctors and scientists.
3:53 a.m. Aug. 27, 2020 - By Ciara Linnane
Dollar Tree posts better-than-expected Q2 earningsDollar Tree Inc. shares slid 6% in premarket trades Thursday, after the operator of Family Dollar and Dollar Tree stores posted better-than-expected second-quarter earnings but said customer visits are declining during the pandemic. The company said it had net income of $261.5 million, or $1.10 a share, in the quarter, up from $180.3 million, or 76 cents a share, in the year-earlier period. Sales rose to $6.28 billion from $5.74 billion. The FactSet consensus was for EPS of 92 cents and sales of $6.22 billion. Total same-store sales rose 7.2%, above the FactSet consensus of up 6.2%. Family Dollar same-store sales rose 11.6%, while Dollar Tree same-store sales were up 3.1%. The company is not providing guidance, given the uncertainty created by the pandemic, but it noted some changes. "Consumer shopping patterns are evolving," Chief Executive Mike Witynski said in a statement. "Customers are shopping with a purpose, while looking to minimize risk and exposure. As a result, we are seeing material increases in average ticket, while seeing a decline in average visits." The company is still expecting to open 500 new stores by year-end. It ended the quarter with $1.75 billion in cash. Shares have gained 11% in the year to date, while the S&P 500 has gained 7.7%.
11:10 a.m. July 24, 2020 - By Ciara Linnane
Coronavirus update: Global case tally climbs to 15.6 million and U.S. hits 4.07 million as virus spreads fast in Florida, California and Texas Three members of the Dow Jones Industrial Average — Intel, American Express and Verizon — reported earnings with mixed resultsThe number of confirmed cases of the coronavirus illness COVID-19 climbed to 15.6 million on Friday, and the U.S. case tally hit 4.07 million as the virus continued to spread in the South and West and more states reported that health care systems are steadily being overwhelmed.
11:12 a.m. May 28, 2020 - By Ciara Linnane
Coronavirus update: U.S. marks grim milestone as Trump preps executive order on social-media companies HP’s printing business takes a hit as office workers stay home, while Dollar General and Dollar Tree enjoy sales boost The U.S. death toll from the coronavirus that causes COVID-19 rose above 101,000 on Thursday, one day after it exceeded the 100,000 level, a grim marker for the nation with the highest number of cases and deaths in the world.
3:24 a.m. May 28, 2020 - By Tonya Garcia
Dollar Tree shares jump after earnings beat expectationsDollar Tree Inc. shares jumped 3.4% in Thursday premarket trading after the discount retailer reported first-quarter earnings and sales that beat expectations. Net income totaled $247.6 million, or $1.04 per share, down from $267.9 million, or $1.12 per share, last year. Sales totaled $6.29 billion, up from $5.81 billion last year. The FactSet consensus was for EPS of 85 cents and sales of $6.14 billion. Same-store sales increased 7%, with Family Dollar up 15.5% and the namesake Dollar Tree down 0.9%. Dollar Tree's same-store sales were hurt by declines during the Easter holiday, with the party, candy and Easter categories down 490 basis points, according to a statement from Mike Witynski, enterprise president of the company. However, the chain bounced back with discretionary sales improving for things like Mother's Day, balloons and graduation, according to Gary Philbin, chief executive of Dollar Tree. "With more than 38 million Americans filing unemployment claims in the past nine weeks, we believe that Dollar Tree and Family Dollar are part of the solution to help millions of families stretch their budgets to help make ends meet," Philbin said in a statement. Dollar Tree's portfolio of stores are considered essential businesses with all 15,300-plus stores open for business. Store hours have been modified for cleaning and restocking, contactless payment options have been added and other measures taken in light of the coronavirus pandemic. Dollar Tree previously withdrew its guidance, and expects capex for the year of $1.0 billion compared with the previous expectation of $1.2 billion. Dollar Tree ended the quarter with $1.76 billion in cash after drawing down $750 million from its revolving line of credit. Dollar Tree stock is down 7% for the year to date while the S&P 500 index has fallen 6% for the period.
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