Dollar Tree reports Q4 results

CHESAPEAKE, Va. One of the nation's leading operator of discount variety stores reported an increase of 32.2% in tis fourth-quarter earnings per share, compared with the year-ago period.

Dollar General reported earnings per diluted share of $1.52 for the fourth quarter ended Jan. 30, 2010. The discount retailers also said its net sales for the fourth quarter were $1.56 billion, a 12.4% increase compared with $1.39 billion reported for fourth quarter 2008. Additionally, comparable-store sales increased 6.6% for the quarter.

“We are very pleased with our 4th quarter and full year 2009 financial performance,” said president and CEO Bob Sasser. “Dollar Tree achieved record sales and earnings and I am especially proud of the significant improvements in our operating margin and inventory productivity. Customers like our convenient locations, friendly shopping environment and exciting merchandise value. In 2010, we expect continued positive results from our focus on merchandise productivity, keen management of supply chain and back office expenses and investment in initiatives and merchandise to thrill the customer. Dollar Tree is well positioned for continued growth.”

During the fourth quarter, Dollar Tree opened seven stores, closed four stores, and expanded one store. For the year, the company opened 240 new stores, closed 25 stores and expanded or relocated 75 stores.