* Quarterly profit of 51 cents a share beats analysts' view
* Holiday-quarter forecast above most analysts' estimates
* Shares up 4.3 percent
Nov 15 Dollar Tree Inc reported a
higher quarterly profit on Thursday as it controlled costs, and
the retailer forecast holiday-quarter earnings above most
Shares of Dollar Tree, which sells items for $1 or less at
its namesake chain and at a variety of prices at its smaller
Deal$ chain, rose more than 4 percent.
Dollar Tree said it expected earnings of 97 cents to $1.02 a
share for this quarter. Analysts on average had forecast 97
cents, according to Thomson Reuters I/B/E/S.
The company gave a sales outlook of $2.2 billion to $2.26
billion for the quarter, largely in line with Wall Street
expectations. It expects sales at stores open at least a year to
be flat to up by a low single-digit percentage rate.
During the third quarter ended on Oct. 27, selling and
general expenses as a percentage of sales fell 0.6 points to
24.2 percent, helping Dollar Tree overcome disappointing
same-store sales and report a stronger-than-expected profit.
Sales rose 7.8 percent to $1.72 billion. Same-store sales
increased 1.6 percent, below the 2.4 percent gain that analysts
But Dollar Tree said sales at its newer stores were
In October, Dollar Tree said sales could suffer because of
higher gasoline prices and consumers' caution about spending.
The company said it had earned $155.4 million, or 68 cents
per share in the third quarter, up from $104.5 million, or 43
cents per share, a year earlier.
Excluding a one-time benefit from the sale of a stake in
discount retailer Ollie's Holdings, Dollar Tree earned 51 cents
a share, or 2 cents more than analysts expected.
The company's shares were up 4.3 percent at $39.38 in early