The retailer reported third-quarter adjusted earnings of $1.12 a share on sales of $7.56 billion, beating analysts' expectations.

In the announcement, Dollar Tree said, "Dollar Tree, Inc. and Jeff Davis have agreed that he will step down from his role as the Company’s Chief Financial Officer. The company has launched an external search and to ensure a smooth transition, Mr. Davis has agreed to remain with the company through the filing of its fiscal 2024 Form 10-K."

Dollar Tree's third-quarter profit and sales beat market expectations on Wednesday, as more customers shopped at its discount stores for non-expensive essentials including groceries, sending its shares up about 10% in premarket trading.

While financial performance improved during Q3, the retailer now faces the additional challenge of searching for a new CEO and CFO.

Dollar Tree (DLTR) stock is in focus after the company's quarterly results beat Wall Street's expectations, and the retailer announced the departure of its CFO. R5 Capital founder and CEO Scott Mushkin joins Seana Smith and Brad Smith on Morning Brief to discuss the print and what's next for the discount retailer.

Dollar Tree exceeded analyst expectations in Q3, showing resilience that was aided by strategic transformations.

Shares of discount retailer Dollar Tree ($DLTR) were up 1.51% on Wednesday after the company posted better-than-expected third-quarter earnings, beating Wall Street expectations and lifting retail sentiment.