Dollar Tree, Dollar General, and Five Below all reported earnings
Shares of discount retailers Dollar Tree Inc (NASDAQ:DLTR), Dollar General Corp (NYSE:DG), and Five Below Inc (NASDAQ:FIVE) are all moving today after their third-quarter earnings reports.
Last seen down 1.4% at $72.81, DLTR is the most subdued of the three today. The company last night reported a profit and sales beat for the third quarter, helped by budget-conscious consumers flooding discount stores for apparel and electronics. What's more, Dollar Tree said CFO Jeff Davis will follow CEO Rick Dreiling out the door, stepping down after roughly two years in the position. Year to date, Dollar Tree stock is down 48.6%.
Meanwhile, DG is down 3.2% at $76.98 even after the company beat third-quarter revenue and same-store sales expectations. Weighing on shares is the firm's earnings miss and its slashed full-year earnings guidance, warning that profit margins will be squeezed amid holiday promotions and discounts. Since the start of 2024, Dollar General stock is off more than 43%.
FIVE is up 13.3% at $118.91 at last look, after the company smashed top- and bottom-line estimates for the third quarter. Five Below posted earnings per share of 42 cents on revenue of $844 million, beating expectations of 17 cents on $799 million. The firm saw a 15% surge in sales, raised its sales projection for the full year, and announced Winnie Park as its new CEO, effective Dec. 16. Up 34.4% this quarter, Five Below stock still sports a 44.4% year-to-date deficit.