Dollar Tree, Inc.'s (NASDAQ:DLTR) stock is falling after the company reported worse-than-expected second-quarter 2024 earnings.
The discount variety stores chain reported an adjusted EPS of $0.67, missing the consensus of $1.04, and down 26.4% year over year.
Chief Financial Officer Jeff Davis added, "Our adjusted EPS of $0.67 was $0.38 below the midpoint of our previous outlook range. While the vast majority of this variance was attributable to an adjustment of our general liability accrual, a portion was attributable to a comp shortfall, which reflected the increasing effect of macro pressures on the purchasing behavior of Dollar Tree's middle- and higher-income customers."
Also Read: Walmart, Target Are Eating Dollar Stores' Lunch: Dollar General Lowers Guidance, Will Dollar Tree Be Next?
The company ...
