Dollar Tree reported Q2 FY2024 revenue of $7.37 billion, up 0.7% year-over-year, driven by a 0.7% enterprise-wide comparable store net sales increase. The Dollar Tree segment saw 1.3% comparable sales growth while Family Dollar segment declined 0.1%. Net income decreased 34% to $132.4 million, with earnings per share falling to $0.62 from $0.91 in the prior year.Gross profit margin improved 80 basis points to 30.0%, benefiting from lower freight costs, though partially offset by higher consumable merchandise costs and increased occupancy expenses. However, selling, general and administrative expenses rose 200 basis points to 27.3% due to unfavorable development of general liability claims, higher depreciation from store investments, and increased temporary labor costs.The company continues executing strategic initiatives including multi-price rollout at Dollar Tree stores and store portfolio optimization at Family Dollar, with approximately 655 underperforming Family Dollar stores closed year-to-date. A formal review of strategic alternatives for the Family Dollar segment is ongoing, which could include potential sale or spin-off. The company maintained its commercial paper program with $250 million outstanding at quarter-end.

Dollar Tree reported Q2 FY2024 revenue of $7.37 billion, up 0.7% year-over-year, driven by a 0.7% enterprise-wide comparable store net sales increase. The Dollar Tree segment saw 1.3% comparable sales growth while Family Dollar segment declined 0.1%. Net income decreased 34% to $132.4 million, with earnings per share falling to $0.62 from $0.91 in the prior year.Gross profit margin improved 80 basis points to 30.0%, benefiting from lower freight costs, though partially offset by higher consumable merchandise costs and increased occupancy expenses. However, selling, general and administrative expenses rose 200 basis points to 27.3% due to unfavorable development of general liability claims, higher depreciation from store investments, and increased temporary labor costs.The company continues executing strategic initiatives including multi-price rollout at Dollar Tree stores and store portfolio optimization at Family Dollar, with approximately 655 underperforming Family Dollar stores closed year-to-date. A formal review of strategic alternatives for the Family Dollar segment is ongoing, which could include potential sale or spin-off. The company maintained its commercial paper program with $250 million outstanding at quarter-end.