(Dollar Tree) Shares of Dollar Tree rose more than 18% on Thursday after reporting diluted earnings per share of $2.37 in the first quarter of 2022, up 48.1% from the prior year.
Dollar Tree said that its consolidated net sales improved by 6.5% to 6.90 billion. Comparable store sales rose by 11.2%.
The company said that its gross profit improved by 19.2% to $2.34 billion, with gross margin up by 360 basis points to 33.9%.
Dollar Tree netted an income of $536.4 million in the quarter, an increase of 43.2% from the prior year.
The discount retailer said that it projects a diluted EPS of between $7.80 and $8.20 in FY22, an increase compared to its prior outlook range of between $7.60 and $8.00.
FY22 consolidated net sales are expected at between $27.76 billion to $28.14 billion, improved guidance compared to the prior outlook of between $27.22 billion and $27.85 billion.
DLTR: NASDAQ is up +18.02%.
