Dollar Tree Raises FY17 Earnings Guidance - Quick Facts

(RTTNews) - Dollar Tree, Inc. (DLTR) announced the company now anticipates net income per share for fiscal 2017 will range between $4.44 and $4.60, compared to its previous guidance of $4.17 to $4.43. The estimate includes $53.5 million, or $0.14 per share, of receivable impairment charges incurred in the first half of 2017. Consolidated net sales for fiscal 2017 are now expected to range from $22.07 billion to $22.28 billion compared to the previously expected range of $21.95 billion to $22.25 billion. The estimate is based on a low single-digit increase in same-store sales and 3.9% square footage growth.

The company estimates consolidated net sales for the third quarter to range from $5.20 billion to $5.29 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 $0.83 to $0.90.

Second-quarter earnings per share increased 36.1% to $0.98 compared to $0.72 in the prior year's quarter. During the quarter, the company recorded $2.6 million, or $0.01 per share, of impairment charges related to its receivable from Dollar Express, which acquired the stores that the FTC required the company to divest.

Second-quarter consolidated net sales increased 5.7% to $5.28 billion from $5.00 billion, prior year. Enterprise same-store sales increased 2.4%. The company said the growth in same-store sales was driven by increases in comparable transaction count and average ticket. Same-store sales for the Dollar Tree banner increased 3.9%. Same-store sales for the Family Dollar banner increased 1.0%.