Dollar Tree Ditches Family Dollar, Chewy Beats Estimates
On this episode of Stock Movers:
- Dollar Tree (DLTR) shares rose after the retailer agreed to sell its troubled Family Dollar unit for about $1 billion. The deal, which is expected to close next quarter, marks a disappointing end to Dollar Tree’s bid to establish itself as a discount giant, with a price tag that’s a steep discount to the nearly $9 billion it paid for Family Dollar. Dollar Tree’s store count will roughly halve following the transaction.
- Chewy’s (CHWY) profit and sales beat estimates buoyed by strong customer growth. Additionally, the company issued guidance for the first quarter that came ahead of consensus forecasts. Shares in the pet food retailer were higher in early trading today, before falling in after hours trading.
- Freeport-McMoRan (FCX), a copper miner, climbed in trading today after US President Donald Trump’s administration signaled that tariffs on the industrial metal could be coming in weeks rather than months.
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