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Dollar Tree profit misses consensus by 66.9% in fiscal Q2

Dollar Tree Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 was 22 cents per share, compared with the S&P Capital IQ consensus estimate of 67 cents per share.

EPS fell 64.3% year over year from 62 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $47.3 million, a decrease of 63.0% from $127.6 million in the prior-year period.

The normalized profit margin fell to 1.3% from 6.3% in the year-earlier period.

Total revenue climbed 48.3% on an annual basis to $3.01 billion from $2.03 billion, and total operating expenses grew 53.9% from the prior-year period to $2.80 billion from $1.82 billion.

Reported net income came to a loss of $98.6 million, or a loss of 46 cents per share, compared to income of $121.9 million, or 59 cents per share, in the year-earlier period.