Dollar Tree Inc (NASDAQ:DLTR) shares are ticking lower after the company reported its first-quarter FY24 earnings and announced a review of strategic alternatives for its Family Dollar business segment.
The company reported first-quarter FY24 sales growth of 4.22% at $7.63 billion, which was in-line with the analyst consensus estimate.
Same-store sales increased 1.7% for the Dollar Tree segment, 0.1% for Family Dollar, and 1% for Enterprise.
Gross profit for the quarter increased 5.3% Y/Y to $2.35 billion, and the gross margin expanded 30 basis points to 30.8%.
Operating income for the quarter rose 0.2% to $420.6 million, and the margin contracted 20 basis points …