Dollar Tree (DLTR) is still recovering from a difficult year, but today, shares rose as the company announced some key staffing updates. The discount retail chain has appointed three people to high-level positions, including Chief of Dollar Tree Stores and Enterprise Store Operations and President of Family Dollar Stores. This may help Dollar Tree stock sustain the growth it has exhibited recently after spending most of the year trending downward.
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What’s Happening with Dollar Tree Stock?
While Dollar Tree stock closed out trading today up 5%, shares have dipped in after-hours trading. However, DLTR has garnered notable momentum over the past five days and remains in the green for the week. That said, while this recent growth is encouraging, the company still has considerable ground to make up after declining 29% over the past quarter.
Dollar Tree’s new hiring news does indicate that it may be turning a new corner. The company has appointed Steve Schumacher as Executive Vice President and Chief People Officer. Jocelyn “Jocy” Konrad is the new Chief of Dollar Tree Stores and Enterprise Store Operations, and Jason Nordin has been named President of Family Dollar Stores. Both Nordin and Konrad joined the company in September 2023, while Schumacher has been with Dollar Tree since 2018.
Mike Creedon is still serving as Interim CEO while Dollar Tree searches for a replacement for former Chairman and CEO Rick Dreiling, who abruptly stepped down earlier this month due to health concerns. News of his departure did not impact DLTR stock, and this recent hiring news is likely to remain a positive catalyst in the short term.
Wall Street Remains Sidelined on Dollar Tree Stock
Turning to Wall Street, analysts have a Hold consensus rating on DLTR stock based on six Buys, 15 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. While shares have fallen 44% over the past year, the average DLTR price target of $81.37 per share implies 25% upside potential.
