Dollar Tree Reports Second Quarter Earnings of 61 Cents Per Share

Retailer Dollar Tree Inc. (DLTR) reported second quarter earnings of 61 cents per diluted share, up from 42 cents per share in the second quarter of 2009.

Consolidated net sales were $1.38 billion, a 12.7% increase from the year-ago quarter, the company said in a statement. Comparable store sales rose 6.7%.

"Dollar Tree's sales and earnings continued to expand in the second quarter," CEO Bob Sasser said. "Sales were strong throughout the quarter, driven by increases in both traffic and average ticket."

The company opened 56 stores in the second quarter, expanded or relocated 34 stores, and closed five.

The company forecast earnings per share in the range of $2.84 to $2.96 for the full year. This includes the impact of the non-cash, non-recurring charge that was incurred in the first quarter, related to the company's retail inventory accounting change

Full-year sales were forecast in the range of $5.77 billion to $5.86 billion.

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I've shopped at Dollar Tree a lot this summer. They had stuff that I needed for my July summer trip to New Orleans. The dollar stores are really where most people are going during these recessionary times. While they don't have nearly everything that a discount or department store has, they're very convenient and I am surprised that Dollar Tree performed well. Dollar General and Family Dollar while entire different from Dollar Tree, also are good with their dollar priced items.

August 22 2010 at 11:48 PM Report abuse rate up rate down Reply