Dollar Tree (NASDAQ:DLTR) reports same-store sales rose 2.3% in Q1 due to increases in customer transactions and average ticket.
Gross profit rate slipped 380 bps to 30.6%.
SG&A expense rate improved 90 bps to 22.3% due to lower payroll, operating and corporate expenses.
Operating margin rate squeezed 300 bps to 8.2%.
Store count +8,543 Y/Y to 13997 (includes 7,948 Family Dollar stores).
Retail selling square footage +132.2% to 109.6M.
Q2 Guidance: Net sales: $5.03B to $5.12B; Same-store sales: low single-digit increase; Diluted EPS: $0.66 to $0.72; Selling square footage: +2.4% Y/Y.
FY2016 Guidance: Net sales: $20.79B to $21.08B; Same-store sales: low single-digit growth; Diluted EPS: $3.58 to $3.80; Selling square footage: +4% Y/Y.DLTR +6.56% premarket.
Source: Seeking Alpha
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