Dollar Tree reported a record first quarter due to increases in shopper traffic and average tickets in its roughly 5,000 stores.
Dollar Tree, like other deep discounters, has generally benefited from bargain-hungry shoppers strained by a sluggish economic recovery. The company has broadened its offerings to include refrigerated foods and began accepting food stamps.
Net sales for the quarter were a record $2 billion, a 7.2 percent increase compared to $1.87 billion reported for last year's first quarter. Overall, the company posted earnings of $138.3 million, up from $133.5 million in the prior-year period. Same-store sales increased 2 percent. Story