Dollar Tree boosts annual profit, sales

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A company selling merchandise for a dollar or less is boosting its sales.

Chesapeake-based Dollar Tree Stores Inc. increased its yearly income by 14 percent to $229.5 million. The company reported $4.6 billion in 2008 sales, up 10 percent from the previous year.

“Customers know they can save money and stretch their household budgets at Dollar Tree, and they are responding in record numbers,” CEO Bob Sasser said in a statement.

During 2008, Dollar Tree opened 231 stores, closed 51 stores and expanded 86 stores.

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