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Sam’s eyes slice of Texas BTS pie
Sam’s Club is temporarily suspending is membership fee this weekend to engage in Texas’ tax-free holiday and promote new member sign ups.
The tax-free holiday for back-to-school products begins today and runs through Sunday. Texas is home to 74 of Sam’s 613 U.S. clubs, and during the same three-day period Sam’s will allow non-members to shop its clubs.
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Dollar Tree Q2 profit surges 26%
Chesapeake, Va. -- Dollar Tree Inc. reported Thursday that profit for the quarter ended July 28 soared 26% to $119.2 million, compared with $94.9 million in the year-ago period.
Sales rose 10.5% to $1.7 billion, just missing Wall Street’s expected $1.71 billion. Same-store sales grew 4.5%.
However, the company’s outlook fell short of Wall Street expectations, saying that it expects revenue between $1.71 billion and $1.75 billion in the third quarter while Wall Street expects $1.77 billion.