Dollar Tree continues to report record revenues

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Dollar Tree Inc. continues to thrive in a weak economy.

The Chesapeake-based discount retailer reported Wednesday that fourth-quarter revenues increased 12.8 percent to $1.95 billion, compared with $1.73 billion during the fourth quarter of the previous year. Earnings per diluted share rose 24 percent to $1.60 from $1.29 per share during the same period last year.

“I am pleased to report that our business momentum remains strong as Dollar Tree’s sales, operating margin, and earnings continued to expand in the fourth quarter,” Dollar Tree President and CEO Bob Sasser said in a statement. “Dollar Tree is focused on providing a broad, balanced assortment of merchandise that customers need and want at surprising values.

For the full year ended Jan. 28, net sales were $6.63 billion, a 12.7 percent increase over 2010. Sales at comparable stores rose 6 percent. Diluted earnings per share rose 30 percent to $4.03.

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