Dollar Tree Announces First Quarter Fiscal 2022 Financial Results
May 26, 2022 By MarketDepth
Dollar Tree, Inc. (NASDAQ: DLTR) has announced financial results for the first quarter ended, April 30th, 2022. Consolidated net sales increased 6.5% to $6.90 billion from $6.48 billion in the prior year’s first quarter. Enterprise same-store sales increased 4.4%. Comparable store sales for Dollar Tree increased 11.2%. Family Dollar same-store sales decreased 2.8%,
“The team delivered a solid start to the year – with a 6.5% top-line sales expansion, a 19.2% lift to gross profit, and a 48.1% increase to earnings per share. During the quarter, the Dollar Tree team successfully completed its conversion to the $1.25 price point, contributing to both sales and margin improvements. Shoppers are responding favorably as the new, greater value products hit our shelves, Importantly, other key strategic initiatives, including the expansion of the $3 and $5 Plus assortment in Dollar Tree stores, as well as our Combo Stores and H2 Renovations at Family Dollar are working. Today, we will outline the types of additional strategic investments we will make over the next several years that are designed to position the Company for profitable growth with attractive returns on capital.”
Michael Witynski, President and Chief Executive Officer
“We anticipate these multi-year investments will be focused around our associates, our distribution network and supply chain, our pricing and value proposition, and our technology.” “Our initiatives are working and providing increased profits and cash flow. We believe now is the ideal time to accelerate investments focused on driving growth through improved associate and shopper experience, while propelling greater efficiencies,” added Mr. Witynski. “We anticipate these multi-year investments will be focused around our associates, our distribution network and supply chain, our pricing and value proposition, and our technology.”
