Dollar Tree reports a 14 percent increase in sales for the third quarter
- November 18, 2010
Figures were up across the board for Dollar Tree Inc. during the third quarter. The Chesapeake-based retailer saw sales increase by 14.2 percent at its chain of discount variety stores.
Net sales were $1.43 billion, compared to $1.25 billion for the same quarter last year.
Comparable store sales increased 8.7 percent, on top of a 6.5 percent increase for the third quarter 2009.
Earnings per diluted share were 73 cents, an increase of 43 percent, compared to earnings of 51 cents per diluted share for the third quarter of 2009.
“Increases in customer traffic and average ticket drove strong sales growth throughout the quarter,” President and CEO Bob Sasser said in a statement. “Leading categories … included food, house- wares, domestics, and home products, party supplies and health and beauty care products.”
During the third quarter, Dollar Tree opened 86 stores, expanded or relocated 27 stores, and closed 2 stores. Its retail selling space increased by 6.6 percent, to 34.4 million square feet.