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Dollar Tree earnings fall, sales rise in quarter

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Dollar Tree Inc. reported a 38.4% decline in net income for the third quarter, as a result of expenses related to the integration of its Family Dollar acquisition. Net sales more than doubled, to $4.95 billion, as a result of same-store sales gains and the addition of the Family Dollar business.

CHESAPEAKE, Va. — Dollar Tree Inc. reported a 38.4% decline in net income for the third quarter, as a result of expenses related to the integration of its Family Dollar acquisition. Net sales more than doubled, to $4.95 billion, as a result of same-store sales gains and the addition of the Family Dollar business.

Dollar Tree Inc. reported a 38.4% decline in net income for the third quarter, as a result of expenses related to the integration of its Family Dollar acquisition. Net sales more than doubled, to $4.95 billion, as a result of same-store sales gains and the addition of the Family Dollar business.

Sasser added that he was upbeat about the progress being made with the Family Dollar acquisition.“I am pleased with our company’s third quarter performance,” Dollar Tree chief executive officer Bob Sasser said in a statement. “Dollar Tree delivered same-store sales of 2.1%, which represented our 31st consecutive quarter of positive same-store sales. This was against a 5.9% comp from the prior year, our strongest quarter of 2014. While not included in our comp calculation, Family Dollar delivered positive same-store sales of low to mid-single-digits, as a percent, each month during the quarter.”

“Our integration project is on schedule and we are on track to achieve our stated synergy goals,” he said. “Today, I am even more enthusiastic about the long-term opportunity this merger provides for our customers, our suppliers, our associates and our shareholders. As we entered the fourth quarter, both Dollar Tree and Family Dollar stores were well stocked and prepared for the upcoming holiday season.”

During the quarter, the Dollar Tree opened 204 stores, expanded or relocated 63 stores and closed six stores. Additionally, as part of its re-banner initiative, the company closed 167 Family Dollar stores and reopened 143 of them as Dollar Tree stores.


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