Dollar Tree Inc. DLTR, -0.28% stock fell 3.1% in Wednesday premarket trading after the discount retailer reported fourth-quarter sales that missed expectations. Net income totaled $502.8 million, or $2.13 per share, up from $123.0 million, or 52 cents per share, last year. Sales totaled $6.768 billion up from $6.315 billion last year. The FactSet consensus was for EPS of $2.12 and sales of $6.804 billion. Same-store sales rose 5%, below the FactSet consensus for for 5.5% growth. Family Dollar same-store sales were up 8.1% while the namesake chain saw same-store sales growth of 2.4%. For fiscal 2021, Dollar Tree plans to open 600 new stores, 400 Dollar Trees and 200 Family Dollars, and renovate 1,250 Family Dollar locations. Dollar Tree has increased its share repurchase plan by $2 billion. Dollar Tree stock has gaine 21% over the past year while the S&P 500 index SPX, -0.81% is up nearly 29%.
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