Dollar Tree reports increase in Q3, raises outlook

CHESAPEAKE, Va Dollar Tree reported increase in sales and earnings during third quarter ended Oct. 31 and raises outlook.

The company reported earnings per diluted share of 76 cents, for third quarter ended Oct. 31, an increase of 61.7% compared with the 47 cents earnings per diluted share reported for quarter ended Nov. 1 the prior year. Consolidated net sales for third quarter were $1.25 billion, a 12.1% increase compared with $1.11 billion reported for quarter ended Nov. 1 the prior year. Comparable-store sales increased 6.5% for the quarter.

The company estimates sales for fourth quarter of 2009 to be in the range of $1.49 - $1.53 billion, based on low-to-mid single digit positive comparable-store sales. Diluted earnings per share are estimated to be in the range of $1.30 to $1.39.

Full year sales are now estimated to be in the range of $5.17 - $5.21 billion and diluted earnings per share are expected to be $3.34 - $3.43.