Tuesday, March 5, 2013

Dollar Tree reports sales increase; won't add tobacco

Dollar Tree announced last week that its net earnings improved by 10.2% in the fourth quarter as compared to the same period a year ago. A 15.4% sales increase was a major factor, along with a slight improvement in margins and an extra week in the quarter. Comparable-store sales for the quarter increased 2.4%.

In addition, Dollar Tree announced that unlike Dollar General and Family Dollar, it would not roll out tobacco in its stores. Instead the company will add frozen and refrigerated foods to another 475 stores in 2013.

For the full fiscal year that ended on February 2, Dollar Tree's sales improved 11.5% to $7.4 billion, and net income increased 8.4% to $619.3 million.

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