Dollar Tree reports 3Q earnings growth

CHESAPEAKE, Va. Dollar Tree reported net earnings per diluted share of 47 cents, for the fiscal third quarter ended Nov. 1, an increase of 23.7% over the prior year. As previously reported, sales for the quarter were $1.11 billion, an 11.6% increase from $997.8 million, for the same period, last year. Comparable-store sales increased 6.2% for the quarter.

“Customers continue to respond positively to our increased selection of basic consumable products, great seasonal merchandise and surprising values throughout the store,” said president and ceo Bob Sasser. “We will continue to focus on the customer, and serving their needs in a very difficult economic environment.”

The company estimates sales for the fourth quarter of 2008 to be in the range of $1.38 billion to $1.42 billion, based on low-to-low-mid single digit positive comparable-store sales. Fourth quarter diluted earnings per share are estimated to be in the range of $1.07 to $1.15.

Full year sales are now estimated to be in the range of $4.64 billion to $4.68 billion. Full year diluted earnings per share are expected to be in the range of $2.45 to $2.53.