Dollar Tree beats quarterly revenue estimates on steady demand
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A Dollar Tree sign is seen outside the store in Washington, U.S., June 1, 2021. REUTERS/Erin Scott
Aug 27 (Reuters) - Discount retailer Dollar Tree beat Wall Street estimates for second-quarter revenue on Thursday, buoyed by resilient demand for its affordable products including essentials amid macroeconomic uncertainty.
Shares of the company, which maintained its annual sales forecast for the second time, fell about 3% premarket.
The company, however, raised its annual profit forecast and now expects it between $7.70 and $8.05 including a roughly $0.60 benefit related to the net impact of tariff refunds.Its quarterly revenue rose 7% to $4.89 billion, compared with analysts' estimates of a 6.3% rise to $4.86 billion, according to data compiled by LSEG.
The company maintained its annual net sales forecast of $20.5 billion to $20.7 billion, compared with estimates of $20.65 billion
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Devika Syamnath)
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