Dollar Tree issued a soft outlook for the current quarter, expecting profit to come under pressure as the company reinvests tariff refunds back into its business.

The forecast overshadowed the discount retailer's higher profit and revenue in the latest quarter, which gave the company confidence to boost its earnings outlook for the year.

Shares fell 4.5%, to $126.25, in premarket trading.

Dollar Tree on Thursday guided for adjusted earnings of 80 cents to 95 cents a share in the current quarter. The outlook includes a 50-cent-a-share impact tied to tariff refund reinvestments, it said. Analysts are looking for adjusted earnings of $1.40 a share.

The company also forecast net sales of $5 billion to $5.1 billion, and for comparable sales to climb 3% to 4%.

For the year, though, Dollar Tree said tariff refunds would ultimately benefit the business. The company said it now expects adjusted earnings of $7.70 to $8.05 a share, up from a prior forecast of $6.70 to $7.10 a share. The new outlook includes a roughly 60-cent-a-share benefit tied to tariff refunds.

Dollar Tree also backed its full-year outlook for net sales of $20.5 billion to $20.7 billion, and for comparable sales to grow 3% to 4%. Analysts are looking for adjusted earnings of $7.07 a share, sales of $20.65 billion and comparable sales to be up 3.5% for the year.

The new outlooks came as Dollar Tree posted a profit of $514.5 million, or $2.70 a share, for its 13 weeks ended Aug. 1, compared with $188.4 million, or 91 cents a share, in last year's comparable quarter.

Stripping out one-time items, earnings were still $2.70 a share. That includes a $1.31-a-share benefit tied to tariff refunds, the company said. Analysts polled by FactSet had expected adjusted earnings of $1.15 a share.

Total revenue climbed 7% to $4.89 billion, just topping Wall Street models for $4.86 billion.

Comparable sales--which account for store openings and closings--climbed 3.7%, driven by a 3.3% increase in average ticket and a 0.4% increase in traffic. Analysts were looking for same-store sales to be up 3.2%.

Chief Executive Mike Creedon said Dollar Tree's ability to deliver value and convenience continues to set the company apart from its competitors.

"Our strategies are unlocking a better assortment in better-run stores, while allowing us to engage customers in more relevant and compelling ways," he said. "While we are proud of the progress we have made, we are even more focused on the opportunities ahead."

The report comes as rival Dollar General separately on Thursday said its profit and sales climbed in the latest quarter, boosted by consumers' continued reliance on its low-cost goods.