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CHESAPEAKE, Va. — Dollar Tree Inc. reported an enterprise-wide same-store sales gain of 1.8% for the second quarter. Sales in the company’s Family Dollar chain were flat, while sales in the Dollar Tree chain advanced by 3.7%.
The company’s overall consolidated sales for the quarter ended August 4 increased 4.6% over the comparable prior year period, to $5.53 billion, and diluted earnings per share increased to $1.15, an increase of 17.3%.
“I am proud of our team’s accomplishments in the second quarter,” Dollar Tree president and chief executive officer Gary Philbin said in a statement. “In addition to posting earnings near the top end of our guidance range, our Dollar Tree banner delivered increases in both traffic and ticket, and our Family Dollar banner’s same-store sales were flat compared to last year’s 1% increase.
“Importantly, Family Dollar’s consumables business was positive for the seventh consecutive quarter. Dollar Tree’s 3.7% comp was on top of last year’s 3.9% increase; and represented the fifth consecutive quarter of same-store sales growth exceeding 3.5%. We also celebrated the grand opening of our 15,000th store, and the opening of our 23rd U.S. distribution center. Both of these milestones call out the continued opportunities for growth across North America for our Dollar Tree and Family Dollar banners.”
