On Thursday, Shares of Dollar Tree, Inc. (NASDAQ:DLTR), gained 3.17% to $78.68.
Dollar Tree, stated results for the first quarter ended May 2, 2015.
First Quarter Results
Merged net sales raised 8.8% to $2.18 billion from $2.00 billion in the preceding year’s first quarter. Merged same-store sales raised 3.4% on a constant currency basis, contrast to a 2.0% enhance in the preceding-year period. Adjusted for the impact of Canadian currency fluctuations, the same-store sales enhance was 3.1%. Sales performance was negatively influenced by delayed receipts at four of the Company’s 10 distribution centers related to the west coast port congestion and the formerly revealed estimate of $8 million impact from the holiday calendar shift.
Gross profit raised 7.5% to $748.9 million from $696.6 in the preceding year’s first quarter. As a percent of sales, gross margin reduced by 40 basis points to 34.4%. The primary contributors to the decrease were raised freight costs, an adjustment for the formerly declared inventory accounting method change related to Canadian operations, and higher shrink.
Selling, general and administrative expenses were 23.7% of sales contrast to 23.2% of sales in the preceding year’s first quarter. The quarter comprised of $10.4 million in acquisition-related costs associated with the pending merger with Family Dollar Stores, Inc. Not taking into account acquisition-related costs, selling, general and administrative expenses were 23.2% of sales, flat contrast to the preceding year’s first quarter. Payroll costs, as a percent of sales, raised 10 basis points related to store bonuses and health care claims, and were partially offset by improved productivity in store payroll. Depreciation expense, as a percent of sales, improved by 10 basis points based on leverage of same-store sales.
Net income, contrast to the preceding year’s first quarter, counting acquisition-related costs, was $69.5 million and diluted earnings per share were $0.34. Not taking into account acquisition-related costs, net income raised about $8.0 million to $146.3 million and diluted earnings per share raised 6% to $0.71.
Dollar Tree, Inc. operates discount variety stores in the United States and Canada. Its stores offer merchandise at the fixed price of $1.00. The company’s stores provide consumable merchandise, which comprises candy and food, and health and beauty care products; and everyday consumables, such as paper and chemicals, and frozen and refrigerated food.
Shares of PPL Corp (NYSE:PPL), declined -0.83% to $34.56, during its last trading session.
Talen Energy Corp. (NYSE:TLNwi) will replace Windstream Holdings Inc. (WIN) in the S&P MidCap 400 after the close of trading on Monday, June 1. S&P 500 constituent PPL Corp. (PPL) is spinning off Talen Energy in a transaction predictable to be accomplished on or about that date pending final approvals. Windstream is ranked at the bottom of the S&P MidCap 400 as measured by total market capitalization.
PPL Corporation, an energy and utility holding company, generates, transmits, distributes, and sells electricity to wholesale and retail customers in the United States and the United Kingdom. It operates in four segments: U.K. Regulated; Kentucky Regulated; Pennsylvania Regulated; and Supply.
At the end of Thursday’s trade, Shares of Stratasys, Ltd. (NASDAQ:SSYS), gained 6.69% to $37.31.
A growing number of aerospace companies are embracing 3D printing as they transform how they prototype and manufacture. To support innovation in aerospace engineering, Stratasys, the leading global provider of 3D printing and additive manufacturing solutions, and its partner MakerBot, declared the CubeSat Challenge on GrabCAD, home to the world’s largest community of mechanical engineers. The CubeSat Challenge invites the GrabCAD community to use 3D printing to rethink the CubeSat, a standard small research satellite built by universities, aerospace startups and independent makers around the world.
All challenge entries will be posted in the GrabCAD Challenge and a panel of prominent judges from the aerospace and 3D printing fields will select the winners. Participants have a chance to win cash prizes, in addition to MakerBot® Replicator® Desktop 3D Printers and Stratasys Direct Manufacturing print services.
Stratasys Ltd. provides additive manufacturing (AM) solutions for the creation of parts used in the processes of designing and manufacturing products; and for the direct manufacture of end parts. Its AM systems utilize its patented fused deposition modeling and inkjet-based PolyJet technologies to enable the production of prototypes, tools used for production and manufactured goods directly from three-dimensional (3D) CAD files or other 3D content.
Finally, Cognizant Technology Solutions Corp (NASDAQ:CTSH), ended its last trade with -0.05% lost, and closed at $64.97.
Cognizant Technology Solutions, declared that Karen McLoughlin, Chief Financial Officer, will present at Cowen and Company 43rd Annual Technology, Media & Telecom Conference on Wednesday, May 27, 2015, at 2:00 PM ET.
Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process services worldwide. The company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other.
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