Record results for Dollar Tree in Q1

CHESAPEAKE, Va. — Dollar Tree achieved the highest first-quarter operating margin in its history in the first quarter ended May 4.

Consolidated net sales for the first quarter ended May 4 were $1.9 billion, an 8% increase from $1.7 billion for the quarter ended April 28 last year. The value retailer saw a comparable store sales increase of 2% on top of a 6% increase for the first quarter last year.

"I am pleased with the company's first quarter performance," said president and CEO Bob Sasser. “Sales continued to grow, and our earnings per share increased by 18%. Our stores are executing at a high level and we are well positioned with great assortments and the best values ever for Memorial Day, graduation and an exciting summer selling season.”

During the first quarter, Dollar Tree opened 94 stores, closed 2 stores and expanded or relocated 16 stores. It operates 4,763 stores in 48 states and 5 Canadian provinces.