Industries

Second quarter sales up by more than 11 percent for Dollar Tree

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For Chesapeake-based Dollar Tree Inc., sales are going up, not down.
The discount variety store operator, which sells items for $1 or less, reported sales of $1.2 billion for the quarter that ended on Aug. 1, an 11.9 percent increase for the same quarter last year. 

Comparable store sales also rose by 6.8 percent, on top of a 6.5 percent gain reported for the same quarter last year.  “Traffic continued to increase as customers responded to our ‘Hot Summer Deals’ and the incredible values throughout our stores,” CEO Bob Sasser said in a statement.  “Health and beauty care basics, party supplies, household cleaning supplies and food were our leading categories.”

Dollar Tree operates 3,717 stores in 48 states. Its results are a standout among other retailers whose sales have plummeted during the recession. Department store Macy’s Inc. reported a 10.7 percent drop in same-store sales in July while Target Corp. saw a drop of 6.5 percent in same-store sales for that month.


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