Sept 28 Dollar Tree Inc said in a
filing that it sold off its ownership interest in discount
retailer Ollie's Holdings and that sale will boost its
third-quarter profitability by 16 cents to 17 cents a share.
The retailer had said earlier it expected earnings of 47
cents to 51 cents a share on sales of $1.71 billion to $1.75
billion in its third quarter, which began on July 29.
Analysts, on average, were expecting the company to earn
$0.51 censt a share, as per Thomson Reuters I/B/E/S.
Dollar Tree, which sells items for $1 or less at its
namesake chain, bought an ownership interest in mid-Atlantic
based Ollie's Holdings in 2003.
Shares of Dollar Tree closed at $48.29 Friday on Nasdaq.