Dollar Tree Inc. on Wednesday reported a boost in fourth-quarter sales and profit, but the results fell short of Wall Street expectations.
The discount retailer's stock shed 10 percent of its value in premarket trading.
The Chesapeake, Virginia company's profit tripled to $1.04 billion, or $4.37 per share, on a gain from sweeping tax reforms last year. Earnings, adjusted for one-time gains and costs, were $1.89 per share.
Revenue rose 12.9 percent to $6.36 billion and same-store sales — or sales in stores open at least a year, a key measure of a retailer's health — rose 2.5 percent.
