Dollar Tree, Inc (NASDAQ:DLTR) Upgraded by Telsey Advisory Group to Outperform

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Dollar Tree, Inc (NASDAQ:DLTR) stock fell 3.67% (As on Nov 26, 10:50:01 AM UTC-4, Source: Google Finance) after Telsey Advisory Group upgraded the previous rating of Market Perform to Outperform and price targets ranging from $91.90 to $175. For the third quarter, Dollar Tree had an EPS of $0.96, compared to year-ago quarter EPS of $1.39. At the moment, the stock has a 52-week-high of $149.24 and a 52-week-low of $84.26. Dollar Tree Inc., the nationwide dollar store, which has maintained the everything-for-one-dollar philosophy for 35 years is having to raise its prices from $1 to $1.25. The company has begun rolling out the $1.25 price point at all Dollar Tree stores nationwide. The continuing expansion of the key strategic initiatives, including Dollar Tree Plus, Combo Stores, and the H2 format, are all going well and on, or ahead of, plan. The Dollar Tree segment delivered a comp sales increase of 60 basis points against its toughest quarterly compare in nearly three years. On a two-year comp stack basis, this was a sequential improvement of 170 basis points from the prior quarter. Discretionary continues to perform well with a 3.2% comp for the quarter. Consumables were impacted by assortment constraints and past dues. For the year the multi-price point merchandise will exceed the sales plan and the company will end this fiscal year with Dollar Tree Plus in nearly 600 stores, exceeding the previous target of 500 stores by the end of the year.

Moreover, Family Dollar delivered a positive 2.7% comp against the 6.4% increase a year ago. This represented the third consecutive quarter that Family Dollar two-year comp stack has exceeded 9%. The consumable side of the business comped over 3% while discretionary was slightly negative as the company cycled stimulus dollars from the prior year. Further, in October, the company announced the expanded partnership with Instacart to now include same-day delivery from nearly 7,000 Dollar Tree stores. Nearly 100 million US households now have delivery options from 13,000 of the store locations. Consolidated net sales increased 3.9% to $6.42 billion in the third quarter of 2021, comprised of $3.42 billion at Dollar Tree and $3 billion at Family Dollar. Enterprise same-store sales increased 1.6% as the company cycled a 5.1% increase from a year ago, representing a 6.7% increase on a two-year stacked basis.

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