Dollar Tree Projects Low Single-digit Increase In Same-store Sales For FY18

(RTTNews) - Dollar Tree, Inc. (DLTR) announced, for fiscal 2018, the company estimates consolidated net sales will range from $22.70 billion to $23.12 billion. The estimate is based on a low single-digit increase in same-store sales and 3.7% square footage growth. Fiscal 2018 earnings per share are expected to range from $5.25 to $5.60.

For the first-quarter, the company estimates consolidated net sales to range from $5.53 billion to $5.63 billion, based on a low single-digit increase in same-store sales for the combined enterprise. Earnings per share are estimated to be in the range of $1.18 to $1.25.

Fourth-quarter earnings per share increased 221.3% to $4.37 compared to $1.36 in the prior year's quarter. The 53rd week in fiscal 2017 represented a benefit of approximately $0.21 per share. Adjusted earnings per share for the quarter was $1.89.

Consolidated net sales for the 14-week fourth quarter increased 12.9% to $6.36 billion from $5.64 billion in the prior year's fourth quarter. Enterprise same-store sales increased 2.4% on a constant currency basis. Adjusted to include the impact of Canadian currency fluctuations, the enterprise same-store sales increase was 2.5%.

The company said its same-store sales growth was driven by increases in average ticket and comparable transaction count. Same-store sales for the Dollar Tree banner increased 3.8% on a constant currency basis (or 3.9% when adjusted to include the impact of Canadian currency fluctuations). Same-store sales for the Family Dollar banner increased 1.0%.

During the quarter, the company opened 137 stores, expanded or relocated 8 stores, and closed 46 stores. Retail selling square footage at fiscal year-end was approximately 116.6 million square feet.