Dollar tree profit falls 2.6 percent

Dollar Tree reported a 2.6 percent fall in quarterly profit as costs increased.

Net income fell to $121.5 million, or 59 cents per share, in the second quarter ended Aug. 2 from $124.7 million, or $1.25 per share, a year earlier.

A Dollar Tree store, July 28, 2014 in Miami, Florida.
Getty Images
A Dollar Tree store, July 28, 2014 in Miami, Florida.

Revenue jumped 9.5 percent to $2.03 billion.

Wall Street analysts had expected Dollar Tree revenue of $2.01 billion, according to a consensus estimate from Thomson Reuters.

Same-store sales rose 4.5 percent on a constant-currency basis. Analysts on average had expected a 2.5 percent rise, according to research firm Consensus Metrix.

Read MoreFamily Dollar rejects Dollar General bid, backs rival

Dollar Tree is a discount retailer that has a large selection of items that cost $1 at more than 5,000 stores in the U.S. and Canada.

Last month, Dollar Tree announced plans to acquire Family Dollar for $8.5 billion. The deal was expected to close by early next year and would result in a combined more than 13,000 locations. The company said it expects sales of more than $18 billion from the transaction, expanding the customer base from suburban America to Family Dollar's urban and rural locations.

This week, Dollar General made a competing offer of $9.7 billion for Family Dollar.

Check what markets are doing here.

—By Reuters with CNBC

Contact Earnings


    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More