Revenue during the quarter grew 3.96 percent to $5,287.10 million from $5,085.80 million in the previous year period. Gross margin for the quarter expanded 21 basis points over the previous year period to 30.77 percent. Total expenses were 92.65 percent of quarterly revenues, up from 91.77 percent for the same period last year. That has resulted in a contraction of 88 basis points in operating margin to 7.35 percent.

Operating income for the quarter was $388.80 million, compared with $418.70 million in the previous year period.

However, the adjusted operating profit for the quarter stood at $439.70 million.

"I am extremely pleased with the first quarter performance of our Dollar Tree banner and with the continued progress in re-building the Family Dollar business," stated Bob Sasser, Chief Executive Officer. "Same-store sales were positive and total sales were near the mid-point of our range of guidance. Gross margin and operating margin rates improved, SG&A expenses were well managed across both banners and our adjusted EPS of $0.98 per diluted share, excluding the impairment charge related to the divestiture to Dollar Express, met the high end of our range of guidance. The Dollar Tree banner continues to generate results that are strong, consistent and growing and we are enthusiastic about the opportunity to improve the Family Dollar business as we launch our renovation initiatives in the second quarter."

For fiscal year 2017, Dollar Tree, Inc. forecasts revenue to be in the range of $21,950 million to $22,250 million. The company expects diluted earnings per share to be in the range of $4.17 to $4.43.

For the second-quarter, Dollar Tree, Inc. forecasts revenue to be in the range of $5,180 million to $5,280 million. The company expects diluted earnings per share to be in the range of $0.80 to $0.88.

The company has spent $108.10 million cash to meet investing activities during the quarter as against cash outgo of $92.80 million in the last year period. It has incurred net capital expenditure of $108.10 million on net basis during the quarter, down 38.16 percent or $66.70 million from year ago period.

The company has spent $33.60 million cash to carry out financing activities during the quarter as against cash outgo of $24.80 million in the last year period.

Cash and cash equivalents stood at $1,154.90 million as on Apr. 29, 2017, up 24.22 percent or $225.20 million from $929.70 million on Apr. 30, 2016.

Debt comes down
Dollar Tree, Inc. has recorded a decline in total debt over the last one year. It stood at $6,297.60 million as on Apr. 29, 2017, down 14.09 percent or $1,032.70 million from $7,330.30 million on Apr. 30, 2016. Interest coverage ratio improved to 5.20 for the quarter from 4.80 for the same period last year.