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Given the ongoing cost difficulties that the retail industry is witnessing, Dollar Tree’s business was bound to be negatively impacted. Its second quarter performance was below par with revenues below Wall Street expectations and earnings just about meeting the analyst consensus estimate. The company did manage to raise revenue by 6.7%. For Family Dollar, the management relocated 24 stores, remodelled 257 stores, and established 95 new stores throughout the quarter. Importantly, Dollar Tree did
Companies: Dollar Tree, Inc.
Dollar Tree delivered a decent quarterly result with a strong 40.6% gross profit margin, up nearly 700 basis points from the previous year's first quarter. Despite the inflationary environment, the company delivered a 20.2% operating margin, up more than 800 basis points. As they cycled the massive release of stimulus dollars last year, consumable comps were up 1.2% in the quarter, while discretionary comps were down 14.7%. Furthermore, the management anticipates a mid-single-digit increase in c
Dollar Tree and Family Dollar have both delivered a positive 2-year growth based on recent quarterly performance and are above pre-pandemic levels. Discretionary sales accounted for more than 57% of total sales in the last quarter and have been increasing gradually which is a positive sign. The company’s revenue increase despite the spread of the Omicron variant during the past quarter does show its robustness. Dollar Tree’s business continues to benefit from stimulus dollars from the previous y
Dollar Tree has been among the more resilient stocks in the pandemic phase and its upward trajectory continues. The mother brand along with Family Dollar have both delivered a positive 2-year growth based on recent quarterly performance and are above pre-pandemic levels. Discretionary sales accounted for more than 57% of total sales in the last quarter and have been increasing gradually which is a positive sign. The company’s revenue increase despite the spread of the Omicron variant during the
Dollar Tree ended the third quarter with strong business momentum, which has continued in both segments despite a relatively higher cost structure. The company experienced a robust ending to the third quarter as shoppers are increasingly focused on value in this inflationary environment (the U.S. inflation of 6.8% is at a near four-decade high). Besides, the management continues to make rapid advancements on their key strategic initiatives, such as Dollar Tree Plus, Combo Stores, and their H2 fo
Dollar Tree had an average set of quarterly results and saw its consolidated net sales grow 1% to $6.34 billion, comprising $3.26 billion at Dollar Tree and $3.08 billion at Family Dollar. However, its enterprise same-store sales decreased 1.2% given the tough comps from 2020 which were the result of heavy pandemic-induced spending patterns. On the plus side, Dollar Tree's comps increased 2.9% and Family Dollar's comps increased 9.5% on a two-year stack basis as it continued to see strong perfor
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Leavers: Brewin Dolphin Holdings has left the Main Market.
Caretech Holdings has left AIM.
What’s cooking in the IPO kitchen?**
Streaks Gaming plc, a UK-based provider of conversational gaming products intends to join the Standard Segment of the Main Market this autumn. The flotation is expected to value Streaks at approximately £10.2m (pre-money) and will make it the first LSE-listed "pure-play" conversational gaming company. Raising between £5-10m.
Companies: ZIN SKL EMAN RBD BGO BOO BOD
Companies: ScS Group plc
Hostmore delivered a marginally better than expected H1, but it’s not been a great start to H2 and the cold reality is that the consumer environment has worsened, putting pressure on revenue, with cost inflation – especially energy – also rippling through the P&L. Sensibly, Hostmore is slowing its opening programme to protect cash; it’s highly cash generative with plenty of financial headroom, and this should put it in a good position to exploit market opportunities when the time is right. We ar
Companies: Hostmore PLC
Companies: Tortilla Mexican Grill Ltd.
Companies: NTQ MORE POLB BILN
In the September edition of Zeus’ Video Games quarterly report, we review sector M&A activity in 2022 alongside our regular valuation and performance analysis.
Total 2022 YTD deal volume across the US and Europe (186) is at elevated levels, already second only to 2021. The total number of video games deals rebounded significantly to 81 in Q3 from 28 in Q2, according to our transaction screening. US average deal value reached a record high of £209.5m (joint with that achieved in 2020) on a re
Companies: DEVO GILD TBLD
Brighton Pier Group (BPG) performed strongly during the 12 months to June 2022, which resulted in the company beating forecasts that had already been twice upgraded (FY22E Adj EBITDA of £6.5m originally forecast vs £10.8m ultimately achieved). All divisions performed well, with trading boosted by pent-up consumer demand and government support packages. The outlook appears more muted, however, driven by elevated inflation and the widely documented ‘cost-of-living crisis'; consequently, we lower o
Companies: Brighton Pier Group Plc
Companies: XP Factory PLC
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What’s cooking in the IPO kitchen?**
Streaks Gaming plc, a UK-based provider of conversational gaming products intends to join the Standard Segment of the Main Market this autumn. The flotation is expected to value Streaks at approximately £10.2m (pre-money) and will make it the first LSE-listed "pure-play" conversational gaming co
Companies: MEX RBBS BBSN JADE LTG PCIP
Guild has signed its largest sponsorship agreement to date with Sky UK Ltd (Sky). The three-year global sponsorship is one of the largest ever esports sponsorships signed in Europe and is Sky’s first agreement with an esports organisation. We estimate the new contract could drive Guild into cash profitability before payments to Footwork Productions. In addition, the sponsorship’s high profile may accelerate the signing of other deals in Guild’s growing pipeline. Sky follows other premium brands
Companies: Guild Esports PLC
Pendragon’s interim results show underlying PBT of £33.5m (H1 2021: £35.1m), in line with the numbers flagged in a trading update on 20 July. This is a strong performance given the removal of £8.3m of government support and £7.0m of incremental marketing spend to grow the used car proposition. FY22 trading is expected to be in line with Management’s expectations, despite macro uncertainty and supply shortages, so Zeus headline forecasts are unchanged. We remain comfortable with our 38.6p per sha
Companies: Pendragon PLC
easyJet’s Q3 trading update should be defined as mixed as we see severe negative impacts from the airport chaos, but the encouraging traffic figures, good hedging and further improved liquidity and net debt positions are worth noting. We might downgrade further our estimates to a small extent for the current FY and a further cut for the next FY is not impossible as Heathrow warns of a potential passenger cap for summer 2023.
Companies: easyJet plc
The warmer weather and return to social events has boosted the demand for summer clothing. Next has slightly raised its FY22 guidance for both top-line growth and profitability on the back of better-than-expected full-prices sales in Q2 22.
The group still expects an inflation impact on consumer spending to worsen in the second half.
Companies: Next plc