Dollar Tree (NASDAQ: DLTR) reported Q2 EPS of $1.23, $0.22 better than the analyst estimate of $1.01. Revenue for the quarter came in at $6.34 billion versus the consensus estimate of $6.44 billion.

Enterprise same-store sales decreased 1.2% on a constant currency basis (or 1.1% when adjusted to include the impact of Canadian currency fluctuations), and increased 6.0% on a two-year stacked basis. Dollar Tree same-store sales decreased 0.2% on a constant currency basis (or were flat when adjusted to include the impact of Canadian currency fluctuations). Same-store sales for Family Dollar decreased 2.1%, cycling the strong 11.6% increase in the prior year’s quarter.

“I am proud of our team’s continuing efforts, especially in our stores and distribution centers, to adapt and react in this dynamic environment to serve customers and deliver improvements in both operating margin and earnings,” stated Michael Witynski, President and Chief Executive Officer. “Our EPS of $1.23 represented increases of 12% from the prior year’s quarter and 62% compared to the second quarter of 2019. We continued to see strong performance on the discretionary side of the business, and our key initiatives, including H2, Dollar Tree Plus and the new Combo Stores, are delivering compelling results. All three concepts have performed very well and we are significantly accelerating these initiatives in 2022 and beyond.”

Witynski added, “Regarding the continuing and well-publicized challenges in the global supply chain, as well as higher freight costs and other inflationary pressures, our teams are working hard to navigate these issues while staying focused, as always, on delivering the value and convenience our shoppers expect.”

For earnings history and earnings-related data on Dollar Tree (DLTR) click here.