Retailer Dollar Tree beat Wall Street analysts’ expectations in their fourth quarter and fiscal full-year 2022 earnings report after raising price points in stores.
Throughout the fourth quarter, Dollar Tree’s consolidated net sales increased 9% to $7.72 billion. Net income was $452.million for the three months ended Jan. 28, 2023, little changed from $454.2 million a yea ago.
Diluted earnings per share rose 1.5% to $2.04. In 2022, consolidated net sales increased 7.6% to $28.32 billion while diluted EPS increased 24.3% to $7.21.Dollar Tree’s 2023 outlookConsolidated net sales for full-year fiscal 2023 are expected to range from $29.9 billion to $30.5 billion, with lower single-digit sales increases at Dollar Tree and mid single-digit increases at Family Dollar.
Dollar Tree believes its actions and investments, beginning in the second half of fiscal 2022, are already contributing to top-line momentum, according to the company announcement. "We have undergone a significant amount of change in less than one year, and believe we have the team in place to capture the opportunity ahead of us," Dreiling said.
"We are confident that the accelerated investments outlined will transform our company, will enable and propel us through years of accelerated growth and margin improvement, and will enhance the company’s ability to achieve substantially higher long-term earnings power," he said.
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