On May 28, Dollar Tree rose 11.61% in pre-market trading, trading at $106.97/share, with trading volume of approximately $15.30 million.

The rally was driven by stronger-than-expected first-quarter results and an upward revision to full-year guidance. Dollar Tree reported Q1 adjusted EPS of $1.74, beating the analyst consensus estimate of $1.55 by 12.26%, representing a 38.1% increase over $1.26 per share in the same period last year. Revenue came in at $4.976 billion, also exceeding the $4.965 billion expectation. The company raised its full-year adjusted EPS guidance to $6.70–$7.10, above the FactSet consensus of $6.67, while projecting full-year net sales of $20.5–$20.7 billion.

The strong results are particularly notable given that multiple analysts had expressed concern ahead of earnings. UBS had warned of volatile trends and cost pressures, projecting the company would likely lower its comp-sales and EPS outlooks. Oppenheimer similarly flagged weak shopper response to recent grocery price increases. The earnings beat effectively alleviated market concerns about operational headwinds facing the discount retailer.

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