Dollar Tree Shares Jump 9% Premarket On Better-than-expected Earnings

Shares of Dollar Tree Inc. surged 9% in premarket trade Thursday, after the company posted better-than-expected earnings for the second quarter. The discount store chain said it had net income of $233.8 million, or 98 cents a share, in the quarter, up from $170.2 million, or 72 cents a share, in the year-earlier period. Sales rose 5.7% to $5.28 billion. The FactSet consensus was for EPS of 87 cents and sales of $5.24 billion. The company is now expecting third-quarter EPS of 83 cents to 90 cents and sales of $5.20 billion to $5.29 billion. The FactSet consensus is for EPS of 87 cents and sales of $5.27 billion. For the full-year, it expects EPS of $4.44 to $4.60 and sales of $22.07 billion to $22.28 billion. The FactSet consensus is for EPS of $4.46 and sales of $22.13 billion. Shares are down 3.7% in 2017 through Wednesday, while the S&P 500 has gained 9.2%.