The post Dollar Tree stock rises as discount retailer reports 11% earnings gain appeared on BitcoinEthereumNews.com.

Key points Dollar Tree stock jumped in early trading on solid Q3 earnings. Dollar Tree has been one of the worst performers on the S&P 500 this year. The company is in the middle of leadership and strategic changes. Dollar Tree has been one of the worst performing stocks on the S&P 500 this year. Is it due for a turnaround? Dollar Tree (NASDAQ: DLTR) saw its stock price grow about 2% in early trading Wednesday after the discount retailer reported solid third quarter earnings. Dollar Tree has been one of the worst performing stocks on the S&P 500 this year, as its stock price is down about 47% year-to-date, trading at around $74 per share. Should investors be looking to buy on the dip, particularly on its strong third quarter results and improved Q4 outlook? Exploring options for family Dollar Dollar Tree grew its net sales in Q3 by 3.5% year-over-year to $7.6 billion. That was better than analysts’ projections of $7.5 billion in net sales. Operating earnings jumped 11% to $333 million, or $1.08 per share, in the quarter. Adjusted earnings, which analysts track, were up 15.5% to $1.12 per share, on adjusted operating earnings of $343 million. This topped consensus estimates of adjusted earnings of $1.07 per share. This is a significant improvement on its second quarter results, which saw operating earnings plunge 29% year-over-year to $203 million and EPS fall 32% to 62 cents per share. “Our Dollar Tree and Family Dollar merchandising efforts produced tangible results, and our third quarter sales came in at the high-end of our expected range,” Mike Creedon, interim CEO, said. “As an organization, our top priorities remain accelerating the growth of the Dollar Tree segment, completing the Family Dollar strategic review process, and unlocking value for Dollar Tree shareholders.” In…

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Filed under: News - @ December 5, 2024 6:25 am