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Dollar Tree profit beats estimates on higher customer traffic

Dollar Tree, the best U.S. dollar-store chain operator, on Tuesday reported third-quarter comparable assemble sales and profit that beat Wall Street estimates, remedied by higher customer traffic and spending at its stores.

Sales at stores make known for more than a year rose 3.3 percent, above the 2.4 percent meet expected by analysts, while same-store sales at Dollar Tree’s namesake gyve rose 5.2 percent, beating the 3.2 percent rise analysts had presumed, according to Thomson Reuters I/B/E/S.

While other grocery retailers in the manner of Wal-Mart Stores and Kroger have been cutting prices to struggle with the likes of Amazon, Dollar Tree has been relying sundry on its smaller store sizes and smaller product assortments to draw in purchasers.

Net income rose to $239.9 million, or $1.01 per share, in the third quarter ended Oct. 28, from $171.6 million, or 72 cents per quota, a year earlier.

Net sales rose 6.3 percent to $5.32 billion.

Analysts on typical had expected earnings of 90 cents per share on sales of $5.28 billion, concurring to Thomson Reuters I/B/E/S.

Shares of Dollar Tree, which is reporting its chief quarterly results under the leadership of new Chief Executive Gary Philbin, where a little up in premarket trading.

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