Dollar Tree Earnings Top Views on Strong Sales
Source: Wikipedia
Dollar Tree on Wednesday posted a higher quarterly profit in line with its forecast as shoppers spent more when they came into its stores and the chain controlled costs.
Dollar Tree, which sells items for $1 or less at its namesake chain and at a variety of prices at its smaller Deal$ stores, said it earned $228.6 million, or $1.01 per share, in the fourth quarter ended on Feb. 2, up from $187.9 million, or 80 cents per share, a year earlier.
Sales jumped 15.4 percent to $2.25 billion, including a boost of $125 million from an extra week in the quarter.
In November, Dollar Tree had forecast a profit of 97 cents to $1.02 per share on sales of $2.2 billion to $2.26 billion.
Dollar Tree's quarterly profit was higher than expected due to customers spending more as well as controlling costs. February 2. reports showed $1.01 per share, up from 80 cents a year earlier. Dollar Tree had forecast a profit of 97 cents to $1.02 per share.
