Dollar Tree Stores Shows Weak Quarter

Chesapeake, Va., Dollar Tree Stores posted a 12% decline in third-quarter net income. Same-store sales increased 0.7%, as total sales reached $724 million, up from $665.2 million.

Record fuel prices hurt the top line, said Bob Sasser, president and CEO. "Later-than-planned new-store openings put pressure on third-quarter sales and earnings," he said. "These stores are now open, and we have achieved this year’s plan of 20% square footage growth. While record-high fuel prices continue to burden the consumer, our merchandise assortment and value are better than ever, and our stores are ready for business as we enter the holiday shopping season."