Dollar Tree Q2 profit up 4.6%
Chesapeake, Va. -- Dollar Tree Inc. reported that its fiscal second-quarter earnings rose 4.6% to $124.7 million on higher customer traffic and average ticket prices. The company raised the lower end of its sales and earnings forecasts for fiscal 2013
Bob Sasser, CEO of Dollar Tree said: “Sales, customer traffic, average ticket, earnings and operating margin all continue to grow. Customers are responding in record numbers to our outstanding values in both discretionary and consumable merchandise categories. Our stores are well-stocked with a terrific merchandise presentation for back-to-school and the fall selling season.”
For the quarter ended Aug. 3, Dollar Tree’s sales rose 8.8% to $1.85 billion. Same-store sales rose 3.7%.
During the quarter, Dollar Tree opened 81 stores, expanded or relocated 32 stores, and closed two stores. Retail selling square footage increased 7.0% compared to a year ago, to 41.9 million sq. ft.