Retail News Breaks
Dollar Tree reports strong sales in Q1
May 22nd, 2014
CHESAPEAKE, Va. – Dollar Tree Inc. said fiscal first quarter profit rose 3.6% to $138.3 million, or 67 cents per share, from $133.5 million, or 59 cents per share, a year ago.
Sales climbed $7.2% to $2 billion in the period ended May 3.
"Our first quarter sales grew as the result of increases in both traffic and average ticket, with our discretionary business growing slightly faster than consumables," Bob Sasser, Dollar Tree’s president and chief executive officer, said in a prepared statement. "Leading categories during the quarter included candy, checkout products, stationery and seasonal merchandise for Valentines and Easter."
The retailer said it expects second quarter per-share earnings of 58 cents to 64 cents on sales of $1.97 billion to $2.02 billion. For the full year, Dollar Tree projects per-share earnings of $2.94 to $3.12 on sales of $8.37 billion to $8.54 billion.
"Our stores are currently filled with a balanced mix of consumable products and exciting variety merchandise for summer fun," Sasser said. "Inventory is clean and fresh, and our associates are focused on providing a great shopping experience for every customer, at every store, every day."
The company operates more than 4,500 Dollar Tree, Deal$ and Dollar Bills stores in 48 states and the District of Columbia. It also has about 140 Dollar Tree stores in Canada. Stores carry housewares, toys, seasonal items, food, health and beauty aids, and other items, most priced at $1 or less.
More Retail News Breaks >>