Dollar Tree (NASDAQ: DLTR) reported Q3 EPS of $1.39, $0.24 better than the analyst estimate of $1.15. Revenue for the quarter came in at $6.18 billion versus the consensus estimate of $6.12 billion.

• Same-Store Sales: Enterprise +5.1%; Family Dollar +6.4%; Dollar Tree +4.0% ~

Due to continued volatility and uncertainty related to the COVID-19 pandemic, as well as a lack of visibility into government stimulus initiatives, the Company is not providing updated guidance at this time.

The Company now expects the completion of approximately 480 new store openings and 750 Family Dollar H2 store renovations in fiscal 2020.

Capital expenditures for fiscal 2020 are expected to be approximately $1.0 billion.

The Company ended the quarter with $1.12 billion in cash on its balance sheet. The Company paid down the remaining $500 million on its revolving line of credit during the third quarter. Additionally, the Company plans to pay off a $300 million legacy Family Dollar note due in February 2021.

“It’s an exciting time at Dollar Tree. We are just over three weeks into our important fourth quarter and we are off to a very good start, with same-store sales at both banners currently tracking above reported third quarter levels. Our focus will continue to be on opening new stores, refining our store formats and upgrading our assortments to drive improved store productivity, increasing operating efficiencies, generating free cash flow and buying back shares,” Witynski concluded. “These efforts are designed to deliver continued value to our long-term shareholders.”

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