Dollar Tree, Inc. reports results for the second quarter of fiscal 2024

Dollar Tree, Inc. (NASDAQ: DLTR) today announced financial results for its second quarter ended August 3, 2024.

“We are encouraged by the continued progress we are making in transforming Dollar Tree and Family Dollar, despite the tremendous pressures of a challenging macroeconomic environment,” said Rick Dreiling, Chairman and Chief Executive Officer. “Customers are responding positively to initiatives like our expanded multi-price offering, and we are already seeing a significant increase in sales at the 1,600 Dollar Tree stores that have converted to our newest in-line multi-price format. With thousands of stores still to convert, we believe we are still in the early stages of this rollout and have many years to go.”

Chief Financial Officer Jeff Davis added, “Our adjusted earnings per share of $0.67 were $0.38 below the midpoint of our prior guidance range. While the majority of this variance was due to an adjustment to our general provision for liabilities, a portion was due to a deficit reflecting the increasing impact of macroeconomic pressures on the purchasing behavior of Dollar Tree’s middle- and upper-income customers.”