Dollar Tree posts higher profit

Wed Feb 27, 2013 7:52am EST

Shoppers enter a Dollar Tree store in Arvada, Colorado February 25, 2009. REUTERS/Rick Wilking

Shoppers enter a Dollar Tree store in Arvada, Colorado February 25, 2009.

Credit: Reuters/Rick Wilking

(Reuters) - Dollar Tree Inc (DLTR.O) on Wednesday posted a higher quarterly profit in line with its forecast as shoppers spent more when they came into its stores and the chain controlled costs.

Dollar Tree, which sells items for $1 or less at its namesake chain and at a variety of prices at its smaller Deal$ stores, said it earned $228.6 million, or $1.01 per share, in the fourth quarter ended on February 2, up from $187.9 million, or 80 cents per share, a year earlier.

Sales jumped 15.4 percent to $2.25 billion, including a boost of $125 million from an extra week in the quarter.

In November, Dollar Tree had forecast a profit of 97 cents to $1.02 per share on sales of $2.2 billion to $2.26 billion.

(Reporting by Jessica Wohl in Chicago; Editing by Lisa Von Ahn)