Dollar Tree reports Q3 sales up 11.2% to $2.1 billion

CHESAPEAKE, Va. — Dollar Tree on Thursday reported consolidated net sales of $2.1 billion for its third quarter ended Nov. 1, representing an increase of 11.2%. Consolidated same-store sales increased 5.9% compared to a 3.1% increase in the prior-year period.

 

"Excluding acquisition costs, we delivered a company-record third quarter operating margin of 11.2%. Our 5.9% same-store sales growth was our strongest comp since 2011, and represented our 27th consecutive quarter of positive same-store sales," said Bob Sasser, Dollar Tree CEO. "These results validate our value enhancement initiatives targeted to attract new, and retain current, customers. Our store teams are well-prepared and our shelves are well-stocked with incredible values for the upcoming holiday season."

 

The company opened 117 stores, expanded or relocated 18 stores, and closed one store during the quarter. Retail selling square footage increased to 45.8 million square feet — a 6.8% increase compared to the previous year.

 

Consolidated net sales increased 9.3% to $6.1 billion in the first nine months of 2013. Consolidated same-store sales increased 3.9%, compared to a 2.9% increase for the first nine months of 2013.