WASHINGTON (dpa-AFX) - Discount retail chain Dollar Tree, Inc. (DLTR)
reported Wednesday slightly higher profit in its first quarter with growth in
net sales and same store sales. The company also issued second-quarter earnings
outlook below market, and reitearted fiscal 2024 forecast.

Separately, the company announced that it has initiated a formal review of
strategic alternatives for the Family Dollar business segment, which could
include among others, a potential sale, spin-off or other disposition of the
business.

Dollar Tree shares were losing around 3.6 percent in pre-market activity on the
Nasdaq, to trade at $116.

Dollar Tree said it has not set a deadline or definitive timetable for the
completion of the strategic alternatives review process for Family Dollar.

In its first quarter, Dollar Tree's net income was $300.1 million, higher than
$299 million last year. Earnings per share grew 2.2 percent to $1.38 from $1.35
a year ago.

Adjusted net income was $311.5 million or $1.43 per share, compared to $325.1
million or $1.47 per share last year.

Consolidated net sales increased 4.2 percent to $7.63 billion from prior year's
$7.32 billion.

Analysts on average expected the company to report earnings of $1.42 per share
on sales of $7.63 billion, according to figures compiled by Thomson Reuters.
Analysts' estimates typically exclude special items.

Same-Store net sales growth was 1.7 percent in Dollar Tree Segment and 0.1
percent in Family Dollar Segment.

Looking ahead for the second quarter, the company expects adjusted earnings per
share to be in the range of $1.00 to $1.10. Consolidated net sales for the
second quarter will range from $7.3 billion to $7.6 billion.

The Street is looking for earnings of $1.19 per share on sales of $7.59 billion
for the quarter.

Comparable net sales growth is expected in the low-single-digits for the
enterprise, 2.0 to 4.0 percent for the Dollar Tree segment, and approximately
flat for the Family Dollar segment.

Further, for fiscal 2024, Dollar Tree continues to expect adjusted earnings per
share in the range from $6.50 to $7.00. Consolidated net sales are still
expected to be $31.0 billion to $32.0 billion.

The Street is looking for earnings of $6.89 per share on sales of $31.41 billion
for the year.

Dollar Tree expects to deliver comparable net sales growth in the
low-to-mid-single digits for the enterprise, mid-single-digits in the Dollar
Tree segment, and low-single-digits in the Family Dollar segment.

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