-=Dollar Tree (DLTR) reported earnings on Thur 28 May 20 (b/o)

 Dollar Tree beats by $0.20, beats on revs; Enterprise same-store sales increased 7.0%; not issuing updated guidance

Reports Q1 (Apr) earnings of $1.04 per share, excluding non-recurring items, $0.20 better than the S&P Capital IQ Consensus of $0.84; revenues rose 8.2% year/year to $6.29 bln vs the $6.14 bln S&P Capital IQ Consensus.

Enterprise same-store sales increased 7.0%. Same-store sales for Family Dollar increased 15.5%. Dollar Tree same-store sales decreased 0.9%.

Due to uncertainty related to the COVID-19 pandemic, the Company withdrew its first quarter and fiscal 2020 guidance in its March 31, 2020, Business Update. Given the expectation of continued volatility and uncertainty, the Company is not issuing updated guidance at this time.

Dollar Tree provides COVID-19 update
Co previously announced that it was rewarding hourly-paid store and distribution associates with a $2.00 per hour premium for all hours worked during the twelve-week period from March 8, 2020 through May 30, 2020 at an estimated total cost of $90 million. The Company will be extending the $2.00 per hour premium for hourly-paid store and distribution associates for hours worked over the two-week period ending June 13, 2020 at an estimated incremental cost of $15 million.