Dollar Tree 1Q earnings up 26.3%

CHESAPEAKE, Va. Dollar Tree reported net earnings per diluted share of 48 cents, for the fiscal first quarter ended May 3, an increase of 26.3% over the 38 cents earnings per diluted share for the same period, one year ago. Sales for the quarter were $1.05 billion, a 7.8% increase compared to $975 million, for the same period, one year ago. Comparable-store sales increased 2.1% for the quarter.

“I am pleased with the company’s first quarter performance,” said president and ceo Bob Sasser. “Both sales and earnings per share exceeded guidance and were first quarter records for Dollar Tree.

The company estimates sales for the second quarter of 2008 to be in the range of $1.04 to $1.07 billion, based on low single digit positive comparable-store sales. Diluted earnings per share are estimated to be in the range of 33 cents to 36 cents.

Full year sales are now estimated to be in the range of $4.52 to $4.63 billion while diluted earnings per share are expected to be $2.23 to $2.39.