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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Dollar Tree, Inc.    DLTR

DOLLAR TREE, INC.

(DLTR)
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Dollarama's fourth-quarter profit misses estimates

03/28/2019 | 08:35am EST
A Dollarama store is pictured in Toronto, Ontario

(Reuters) - Canadian discount chain Dollarama Inc narrowly missed quarterly estimates for profit and same-store sales on Thursday, hurt by severe competition and a softening economy that prevented the company from raising prices.

The Montreal-based company said competition from rivals including Dollar Tree Inc had led it to scale back price increases in an attempt to retain customers, reducing gross margins to 40.4 percent in the fourth quarter from 41.4 percent a year ago.

As expected by analysts, the results showed that the discount chain was benefiting from consumers opting for more of their shopping with cheaper retailers in the wake of weakening Canadian economy.

But while customers spent more at its stores on average, the number of transactions fell in the quarter and comparable store sales rose just 2.6 percent, compared to analysts' forecasts of 3 percent and 5.5 percent rise, respectively, a year ago.

The company also expected comparable store sales growth to be in the range of 2.5 percent to 3.5 percent in fiscal 2020.

Dollarama had warned three months ago that it was concerned that fewer customers were shopping at its stores due to price hikes in recent years.

Total quarterly sales rose 13 percent to C$1.06 billion, missing estimates of C$1.07 billion and net income rose to C$171.98 million ($128.1 million), or 54 Canadian cents per share, from C$162.83 million, or 48 Canadian cents per share.

Analysts, however, had expected the company to report a profit of 55 Canadian cents per share, according to IBES data from Refinitiv.

(The story corrects to "raising" from "rising" in first paragraph)

(Reporting by Shradha Singh in Bengaluru; Editing by James Emmanuel)

By Shradha Singh


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
DOLLAR TREE, INC. -1.48% 108.34 Delayed Quote.0.28%
DOLLARAMA INC. -1.08% 51.37 Delayed Quote.0.10%
EURO / US DOLLAR (EUR/USD) -0.62% 1.20749 Delayed Quote.-0.52%
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Financials (USD)
Sales 2021 25 545 M - -
Net income 2021 1 326 M - -
Net Debt 2021 2 539 M - -
P/E ratio 2021 19,3x
Yield 2021 -
Capitalization 25 481 M 25 481 M -
EV / Sales 2021 1,10x
EV / Sales 2022 1,04x
Nbr of Employees 125 000
Free-Float 98,7%
Chart DOLLAR TREE, INC.
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Dollar Tree, Inc. Technical Analysis Chart | DLTR | US2567461080 | MarketScreener
Technical analysis trends DOLLAR TREE, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 121,58 $
Last Close Price 108,34 $
Spread / Highest target 29,2%
Spread / Average Target 12,2%
Spread / Lowest Target -12,3%
EPS Revisions
Managers and Directors
NameTitle
Michael A. Witynski President & Chief Executive Officer
Robert L. Sasser Executive Chairman
Thomas R. O’Boyle Chief Operating Officer
Kevin S. Wampler Chief Financial Officer
James A. Paisley Chief Information Officer
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