(fxcue news) - Shares of Dollar Tree, Inc. were gaining around 5 percent in the pre-market activity on the Nasdaq, after the discount retail chain on Wednesday reported higher third-quarter results, above market estimates. The company also issued fourth-quarter outlook and updated fiscal 2024 forecast. Further, Dollar Tree said its Chief Financial Officer Jeff Davis has agreed to step down from the role. The company has launched an external search, while Davis will remain with the firm through the filing of its fiscal 2024 Form 10-K. Regarding the Family Dollar business segment's review of strategic alternatives, the company said the process is moving forward as planned. The proposed strategic alternatives could include, among others, a potential sale, spin-off, or other disposition of the business. There is no set deadline or definitive timeline for the completion of the review process. Mike Creedon, Interim Chief Executive Officer, said, "Our Dollar Tree and Family Dollar merchandising efforts produced tangible results, and our third quarter sales came in at the high-end of our expected range. As an organization, our top priorities remain accelerating the growth of the Dollar Tree segment, completing the Family Dollar strategic review process, ..." Looking ahead, to the fourth quarter, the company projects adjusted earnings per share to be in the range of $2.10 to $2.30 and consolidated net sales to range from $8.1 billion to $8.3 billion. Analysts on average expect the company to report earnings of $2.23 per share on sales of $8.24 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Comparable store net sales growth for the quarter is projected to be in the low-single-digits for the enterprise and both the Dollar Tree and Family Dollar segments. Further, for fiscal 2024, Dollar Tree now projects adjusted earnings per share in the range $5.31 to $5.51, compared to previous estimate of $5.20 to $5.60. Consolidated net sales are now expected in the range of $30.7 billion to $30.9 billion, compared to previous expected $30.6 billion to $30.9 billion, The company still expects to deliver comparable store net sales growth in the low-single-digits for the enterprise and both the Dollar Tree and Family Dollar segments. The Street is looking for earnings of $5.41 per share on sales of $30.71 billion for the year. In its third quarter, Dollar Tree's earnings increased from the same period last year and beat the Street estimates. The company's earnings came in at $233.3 million or $1.08 per share, compared to $212.0 million, or $0.97 per share, in last year's third quarter. Adjusted earnings were $240.6 million or $1.12 per share for the period. Analysts had expected the company to earn $1.08 per share. The company's revenue for the quarter rose 3.5 percent to $7.568 billion from $7.314 billion last year. The Street projected sales of $7.44 billion for the quarter. In the quarter, same-store net sales of Dollar Tree grew 1.8 percent, Family Dollar increased 1.9 percent, and Enterprise grew 1.8 percent. In pre-market activity on the Nasdaq, Dollar Tree shares were gaining around 4.9 percent to trade at $76.05. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.