RTRS: Dollar Tree 4th-quarter beats market expectations
(Reuters) - Retailer Dollar Tree Inc (DLTR.O) reported a better-than-expected quarterly profit, as it attracted shoppers with low-priced food and basic household goods.
The company, which sells goods for $1 or less at Dollar Tree and at a variety of prices at its smaller Deal$ chain, posted fourth-quarter profit of $187.9 million, or $1.60 a share, compared with $162.5 million, or $1.29 a share, last year.
Revenue rose about 13 percent to $1.95 billion.
Analysts, on average, had expected earnings of $1.58 a share on revenue of $1.93 billion, according to Thomson Reuters I/B/E/S.
Sales at stores open at least a year or same-store sales increased 7.3 percent during the quarter.
Dollar Tree shares closed at $88.01 on Tuesday on the Nasdaq.