Dollar Tree reported Q1 2024 results with net sales increasing 4.2% to $7.63 billion, driven by a 1.0% rise in comparable store sales and $457.4 million from non-comparable stores. Net income remained relatively flat at $300.1 million or $1.38 per diluted share, compared to $299.0 million or $1.35 per share last year. Gross profit margin improved 30 basis points to 30.8%, primarily due to lower freight costs.The company continued executing strategic initiatives across both Dollar Tree and Family Dollar segments. These include expanding multi-price assortments, optimizing store formats, and investing in technology and supply chain improvements. As part of its portfolio optimization review, Dollar Tree closed approximately 550 underperforming Family Dollar stores in Q1, with plans to close an additional 150 stores this year.Looking ahead, Dollar Tree announced a formal review...Show More

Dollar Tree reported Q1 2024 results with net sales increasing 4.2% to $7.63 billion, driven by a 1.0% rise in comparable store sales and $457.4 million from non-comparable stores. Net income remained relatively flat at $300.1 million or $1.38 per diluted share, compared to $299.0 million or $1.35 per share last year. Gross profit margin improved 30 basis points to 30.8%, primarily due to lower freight costs.The company continued executing strategic initiatives across both Dollar Tree and Family Dollar segments. These include expanding multi-price assortments, optimizing store formats, and investing in technology and supply chain improvements. As part of its portfolio optimization review, Dollar Tree closed approximately 550 underperforming Family Dollar stores in Q1, with plans to close an additional 150 stores this year.Looking ahead, Dollar Tree announced a formal review of strategic alternatives for the Family Dollar segment, which could include a potential sale or spin-off. The company also noted challenges from the recent tornado damage to its Marietta, Oklahoma distribution center, which is expected to impact near-term gross margins. Despite macroeconomic pressures affecting customers, Dollar Tree remains focused on driving productive sales growth and improving operational efficiency.