Dollar Tree 1Q EPS up 37.5%

CHESAPEAKE, Va. Dollar Tree reported earnings per diluted share of 66 cents, for the quarter, an increase of 37.5% compared to the 48 cents earnings per diluted share reported for the quarter last year. Consolidated net sales for the first quarter were $1.20 billion, a 14.2% increase compared to $1.05 billion reported for the same period last year. Comparable-store sales increased 9.2% for the first quarter.

“I am pleased with the company’s performance in the first quarter,” said president and CEO Bob Sasser. “As consumers are searching for ways to balance their budgets in these uncertain times, more of them are turning to Dollar Tree and finding exceptionally high value merchandise and a fun, convenient shopping experience. Our customer traffic once again increased in the first quarter, driving sales and earnings ahead of guidance and outstanding financial performance for our shareholders.”

The company estimates sales for the second quarter of 2009 to be in the range of $1.17 billion to $1.20 billion, based on low to mid single digit positive comparable-store sales. Diluted earnings per share are estimated to be in the range of 47 cents to 51 cents.

Full year sales are now estimated to be in the range of $5.05 billion to $5.15 billion and diluted earnings per share are expected to be $2.75 to $2.90.