NEW YORK (TheStreet) -- Shares of Dollar Tree (DLTR) are up by 2.79% to $78.39 in early afternoon trading on Thursday, after having slumped by 3% earlier in the day following the release of the company's 2015 first quarter earnings results, which missed analysts' expectations.
For the most recent quarter the discount variety goods retailer said its adjusted earnings were 71 cents per share, while analysts were looking for earnings of 75 cents per share.
Sales for the first quarter grew by 8.8% to $2.18 billion, just missing the $2.2 billion analysts had forecast.
"Our performance continues to validate that Dollar Tree is part of the solution for millions of customers seeking great values for their hard-earned dollars. Despite challenges presented by delayed receipts of merchandise related to the west coast port congestion and the impact of the holiday calendar shift, our team worked together to deliver solid sales and earnings, both of which were well within our guidance range. We entered the second quarter with fresh inventory, stocked shelves, and greater values than ever for our customers," company CEO Bob Sasser said in a statement.
The company guided for second quarter earnings of 63 cents to 68 cents per share on revenue in a range between $2.17 billion and $2.23 billion.
Analysts are looking for earnings of 70 cents per share on revenue of $2.23 billion for the current quarter.
Separately, TheStreet Ratings team rates DOLLAR TREE INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation: