Why Dollar Tree Stock Is Rising Today

Dollar Tree, Inc. DLTR shares are moving Wednesday after the company announced growth strategies, financial objectives, multi-year guidance and reaffirmed second-quarter and fiscal year 2023 guidance.

What To Know: Strategy and financial outlook will be discussed today at the company's 2023 Investor Conference in Norfolk, Virginia.

Presentations by Chairman and CEO Rick Dreiling, CFO Jeff Davis, and members of the company's executive management team will speak in detail about business segments, including growth strategies, financial objectives, multi-year outlook, and expectations of future cash available for capital allocation.

"Dollar Tree is on an exciting path of accelerating sales and profit. We have compelling plans in place to deliver expanded value assortment across multiple price points, enhance store standards for our customers, and add new technology and capabilities to accelerate progress with our supply chain and people development," said Dreiling.

"As we pursue these initiatives, we are confident in our ability to achieve mid-single-digit comparable-store sales growth, gain market share, and expand our footprint. Achieving these results should drive substantial operating profit improvement across both banners, deliver EPS of $10 or more in fiscal year 2026, and produce significant available cash for shareholders."

Second-quarter 2023 outlook is reaffirmed with consolidated net sales of $7.0 billion to $7.2 billion and diluted earnings per share of 79 cents to 89 cents.

Fiscal year 2023 outlook is reaffirmed with consolidated net sales of $30.0 billion to $30.5 billion and diluted earnings per share of $5.73 to $6.13.

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DLTR Price Action: Shares of DLTR were up 4.46% at $142.63 at the time of publication, according to Benzinga Pro.

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