Dollar Tree (NASDAQ:DLTR) shares declined more than 14% intra-day today following the release of its Q4 financial results. The retailer reported earnings of $2.55 per share for the quarter, missing the $2.66 analysts had predicted.
Its quarterly revenue of $8.64 billion also slightly fell below the expected $8.66 billion. However, Dollar Tree saw an improvement in its gross profit margin, reaching 32.1% compared to 30.9% from the previous year, aligning with consensus estimates.
For the 2024 fiscal year, Dollar Tree anticipates earnings per share to be between $6.70 and $7.30, compared to the $7.04 forecast by analysts. The company projects its net sales for the year to fall between $31.0 billion and $32.0 billion, compared to the anticipated $31.65 billion. In an effort to improve its struggling Family Dollar segment, Dollar Tree also announced plans to close 970 Family Dollar stores.