Dollar Tree (NASDAQ: DLTR) announced an earnings per share of $0.96 before the bell on Tuesday, with revenue coming in at $6.42 billion.
The numbers reported were against an anticipated EPS of $0.96 and revenue of $6.41 billion.
The big news was the company telling investors it would be setting a $1.25 price point for all Dollar Tree stores nationwide by the end of fiscal Q1 2022.
In reaction to the report Dollar Tree's share price has moved 6% higher to $140.63.
“We experienced a strong finish to the quarter, as shoppers are increasingly focused on value in this inflationary environment,” stated Michael Witynski, President and Chief Executive Officer.
“Our Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide. Accordingly, we have begun rolling out the $1.25 price point at all Dollar Tree stores nationwide.”
For Q4, the company estimates consolidated net sales will range from $7.02 billion to $7.18 billion, while its earnings per share is forecasted to be in the range of $1.69 to $1.79.
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