CHESAPEAKE, Va. — The discount store channel continues to thrive, as evidenced by Dollar Tree's strong second-quarter performance.
The company reported that sales for its second quarter ended July 30 increased 11.9% to $1.54 billion from $1.38 billion for the same period last year. Comparable-store sales increased 4.7%, on top of a 6.7% increase for the second quarter 2010.
Dollar Tree's earnings rose an impressive 26.2% to 77 cents per diluted share from 61 cents per diluted share for the prior-year quarter.