Dollar Tree (DLTR) shares tumbled in premarket trading Wednesday after the discount retailer reported another earnings miss and said it is facing "i🌞♑mmense pressures from a challenging macro environment."

The retailer posted $132.4 million in 澳洲幸运5开奖号码历史查询:net income for the second quarter of fiscal 2024, down from $200.4 million last year and well below analysts' estimates compiled by Visible Alpha. Revenue rose slightly to $7.38 billion but was still below expectations.

The retailer also lowered sales and profit projections for fiscal 2024, expecting revenue from $30.6 billion to $30.9 billion, down from $31.0 billion to $32.0 billion previously. Adjusted 澳洲幸运5开奖号码历史查询:earnings per share (EPS) are now expected to be within a range of $5.20 to $5.60, compared with $6.50 to $7.00 previously.

Dollar Tree Executives See Pressured Consumer

澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) Rick Dreiling said the company is making progress despite "immense pressures from a challenging macro environment," while 澳洲幸运5开奖号码历史查询:Chief Financial Officer (CFO) Jeff Davis said earnings were negatively impacted by the "increasing effect of macro pressures on t🍎he purchasing behavior of Dollar Tree's middle- and higher-income customers."

Their comments echo those made last week by executives at 澳洲幸运5开奖号码历史查询:rival Dollar General (DG), who said they see "financially constrained" consumers who are 澳洲幸运5开奖号码历史查询:"less confident" in their financial position and spends lꦛess on discretiꦜonary products as a result.

Wednesday's results are another disappointment for Dollar Tree, which reported earnings below estimates in the two previous quarters. In its Q1 report, the company said it was 澳洲幸运5开奖号码历史查询:exploring "strategic alternatives" including selling or spinning off the Family Dollar brand roughly a decade after acquiring it, while in the prior quarter 澳洲幸运5开奖号码历史查询:Dollar Tree sa꧑id it planned to close about 1,000 stores.

Dollar Tree shares sܫank almost 10% to $73.72 about 45 minutes before the opening bell Wednesday. They are down more than 40% year-to-date.