Dollar Tree reported a 3.5% increase in net sales to $7.56 billion for Q3 2024, driven by a 1.8% rise in enterprise-wide comparable store sales. Net income grew 10% to $233.3 million, or $1.08 per diluted share, up from $212.0 million, or $0.97 per share, in Q3 2023. Gross profit margin improved 120 basis points to 30.9%, primarily due to lower freight costs and improved shrink results.The Dollar Tree segment saw an 8.3% sales increase to $4.34 billion, with comparable store sales up 1.8%. However, its operating income margin decreased to 10.7% from 12.1% last year. The Family Dollar segment's sales declined 2.5% to $3.22 billion, impacted by store closures, but comparable store sales increased 1.9%. Family Dollar's operating margin improved to 0% from -2% in the prior year quarter.The company continues to execute strategic initiatives across both segments...Show More

Dollar Tree reported a 3.5% increase in net sales to $7.56 billion for Q3 2024, driven by a 1.8% rise in enterprise-wide comparable store sales. Net income grew 10% to $233.3 million, or $1.08 per diluted share, up from $212.0 million, or $0.97 per share, in Q3 2023. Gross profit margin improved 120 basis points to 30.9%, primarily due to lower freight costs and improved shrink results.The Dollar Tree segment saw an 8.3% sales increase to $4.34 billion, with comparable store sales up 1.8%. However, its operating income margin decreased to 10.7% from 12.1% last year. The Family Dollar segment's sales declined 2.5% to $3.22 billion, impacted by store closures, but comparable store sales increased 1.9%. Family Dollar's operating margin improved to 0% from -2% in the prior year quarter.The company continues to execute strategic initiatives across both segments, including expanding multi-price assortments at Dollar Tree and optimizing the Family Dollar store portfolio. Dollar Tree also acquired designation rights for up to 170 leases of 99 Cents Only Stores. The company maintains a cautious outlook due to ongoing macroeconomic pressures affecting customers, expecting these trends to continue for the remainder of fiscal 2024.