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Dollar Tree profits from Family Dollar deal
The acquisition of Family Dollar in the second quarter led Dollar Tree Inc. to report quarterly sales that were up more than 48% from a year ago.
For the second quarter ended Aug. 1, Dollar Tree reported sales of $3.01 billion, boosted by $811.6 million in sales from Family Dollar. Same store sales rose 2.7%. Dollar Tree reported income of $138.9 million. The retailer’s earnings were 67 cents.
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Michaels looking good in Q2
Irving, Texas – Better timing of distribution expenses, the elimination of operating costs of 40 shuttered stores and an improved merchandising strategy helped drive sales growth at Michaels in the second quarter.
The retailer posted net income of $35.7 million in the second quarter, compared to a net loss of $48.6 million in the same period a year earlier.
