Dollar Tree reported Q1 FY2024 net sales of $7.63B, up 4.2% YoY, with enterprise same-store sales rising 1.0%. Dollar Tree segment saw 1.7% growth while Family Dollar increased 0.1%. Net income reached $300.1M with diluted EPS of $1.38, up 2.2% YoY. Adjusted EPS was $1.43.The company announced a strategic alternatives review for its Family Dollar business segment, which could include potential sale, spin-off, or other disposition. Additionally, Dollar Tree's Marietta distribution center was destroyed by a tornado in April, resulting in $117M in losses, expected to be fully covered by insurance.For fiscal 2024, Dollar Tree maintains its net sales outlook of $31.0B to $32.0B and projects adjusted EPS of $6.50-$7.00, including $0.20-$0.30 impact from Marietta DC loss. The company has closed approximately 550 stores as part of its portfolio optimization plan and expects to close an additional 150 stores by year-end.

Dollar Tree reported Q1 FY2024 net sales of $7.63B, up 4.2% YoY, with enterprise same-store sales rising 1.0%. Dollar Tree segment saw 1.7% growth while Family Dollar increased 0.1%. Net income reached $300.1M with diluted EPS of $1.38, up 2.2% YoY. Adjusted EPS was $1.43.The company announced a strategic alternatives review for its Family Dollar business segment, which could include potential sale, spin-off, or other disposition. Additionally, Dollar Tree's Marietta distribution center was destroyed by a tornado in April, resulting in $117M in losses, expected to be fully covered by insurance.For fiscal 2024, Dollar Tree maintains its net sales outlook of $31.0B to $32.0B and projects adjusted EPS of $6.50-$7.00, including $0.20-$0.30 impact from Marietta DC loss. The company has closed approximately 550 stores as part of its portfolio optimization plan and expects to close an additional 150 stores by year-end.