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Dollar Tree third-quarter results bolstered by increased traffic
Increased customer traffic helped drive Dollar Tree’s third-quarter results. The retailer cited growth in consumer basics as well as seasonal and variety merchandise, and said its higher margin variety categories are growing at a faster pace.
The company reported consolidated net sales for the quarter of $1.9 billion, a 9.5% increase from $1.72 billion for the year-ago quarter. Comparable store sales increased 3.1%.
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Dollar Tree Q3 profit down
Chesapeake, Va. -- Dollar Tree Inc. reported that its net income in the third quarter fell 19%, impacted by a one -time gain a year related to selling its stake in the Ollie's Holdings chain. The company forecast results for the fourth quarter below Street expectations.
The company posted earnings of $125.4 million for the period ended Nov. 2, down from $155.4 million a year ago.
Revenue rose 9.5% to $1.88 billion. Analysts expected revenue of $1.91 billion.
Same-store sales were up 3%.