Dollar Tree continues to thrive

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Consumers continue to look to Dollar Tree Stores for discounted goods during the economic downturn.

The Chesapeake-based discount retailer reported a 12.1 percent increase in sales to $1.3 billion, compared with the third quarter 2008. Comparable sales rose 6.5 percent during the quarter.

The company reported a 61.7 percent increase in earnings to $185.5 million for the quarter, a 49 percent increase above the $124.3 million earned during last year’s third quarter.

Dollar Tree opened 94 during the quarter, closed eight and expanded or relocated 33 stores. This year, the retailer has opened a total of 233 new stores, while closing 21.

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