Dollar Tree sees 2Q EPS growth

CHESAPEAKE, Va. Dollar Tree reported earnings per diluted share of 63 cents for the second quarter, an increase of 50% compared with the 42 cents earnings per diluted share reported for the same period last year. Consolidated net sales for the second quarter were $1.22 billion, an 11.9% increase compared to $1.09 billion reported for the quarter ended Aug. 2, 2008. Comparable-store sales increased 6.8% for the quarter.

“Our sales continue to grow across a wide range of merchandise categories,” said president and CEO Bob Sasser. “Now more than ever, customers are relying on Dollar Tree for high value basic products including health and beauty care, household supplies and food, in addition to discretionary items including party goods, floral, toys, books and variety merchandise for all seasons.”

The company estimates sales for the third quarter of 2009 to be in the range of $1.19 to $1.23 billion, based on low-to-mid single digit positive comparable store sales. Diluted earnings per share are estimated to be in the range of 58 cents to 64 cents.

Full year sales are now estimated to be in the range of $5.09 to $5.19 billion and diluted earnings per share are expected to be $3.10 to $3.25.