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Why Dollar Tree Stock Is Plummeting Today

TheMotleyFool

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Why Dollar Tree Stock Is Plummeting TodayPhoto, wide shot, wide-angle lens, Clothing manufacturer, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/4c710447-f68a-47bc-a682-c2d83e801596.png

Dollar Tree (NASDAQ: DLTR) stock is getting crushed in Wednesday's trading. The discount retailer's share price was down 24% as of 2:02 p.m. ET, according to data from S&P Global Market Intelligence.

Before the market opened Wednesday morning, Dollar Tree published results for its fiscal second quarter, which ended Aug. 3. Sales and earnings fell short of analysts' consensus expectations, and management cut its full-year guidance targets.

Dollar Tree posted non-GAAP (adjusted) earnings per share of $0.67 on sales of $7.38 billion. Wall Street's expectations had called for adjusted earnings per share of $1.04 on revenue of $7.48 billion.

Source Fool.com

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