Dollar Tree Quarterly Report

(Reuters) – Dollar Tree's third-quarter profit and sales beat market expectations on Wednesday, as more customers shopped at its discount stores for non-expensive essentials including groceries, sending its shares up about 10% in premarket trading.

CFO Changes

Dollar Tree (NASDAQ:DLTR) said CFO Jeff Davis will step down from his role but will remain with the company until the end of fiscal 2024.

Consumer Trends

Consumers shopping for lower-priced products like groceries and personal care have been boosting sales at dollar stores, even as they remain reluctant to make non-essential purchases.

Financial Performance

The company posted net sales of $7.56 billion, compared with analysts' average estimate of $7.44 billion. It posted adjusted earnings per share of $1.12, compared with expectations of $1.07, as per data compiled by LSEG.