Dollar Tree, Inc. (NASDAQ:DLTR) dropped in stock price at Wednesday’s open, on fourth-quarter financial numbers.
The Company reported GAAP earnings per share of $0.52. Adjusted earnings per share for the quarter, excluding the impact of the identified items, was $1.79, near the high end of the Company’s guidance range.
Net income was $123.0 million in the fourth quarter and GAAP diluted earnings per share for the quarter were $0.52 compared to a loss of $9.69 per share in the prior year’s quarter. Excluding discrete costs from the fourth quarter of both years, adjusted diluted earnings per share were $1.79 in fiscal 2019, compared to $1.90 in fiscal 2018.
Consolidated net sales increased 1.8% to $6.32 billion from $6.21 billion in the prior year’s fourth quarter. Enterprise same-store sales increased 0.4%. Same-store sales for the Dollar Tree segment increased 1.4% on a constant currency basis (or 1.5% when adjusted to include the impact of Canadian currency fluctuations).
Same-store sales for the Family Dollar segment decreased 0.8%.
CEO Gary Philbin, Chief Executive Officer, said, "Our support functions are now working together in one location under one leadership team; which we expect will build greater collaboration, efficiencies and teamwork to enable us to support Dollar Tree and Family Dollar stores more effectively. Fiscal 2019 was a very important year for our organization to further develop the foundation to grow and improve our business."
Dollar Tree shares dipped 82 cents, or 1%, to $81.00
