May 31, 2018 / 11:49 AM / 5 months ago

Dollar Tree quarterly same-store sales miss estimates

(Reuters) - Discount store operator Dollar Tree Inc (DLTR.O) on Thursday reported first-quarter same-store sales that missed analysts’ estimates as performance at its namesake and Family Dollar banner lagged due to colder-than-normal spring weather.

FILE PHOTO: Products are seen on display at a Dollar Tree discount store in Garden City, New York, U.S., May 23, 2016. REUTERS/Shannon Stapleton

Sales at established stores open for more than a year rose 1.4 percent, lower than the average analysts’ estimate of 2.19 percent, according to Thomson Reuters I/B/E/S.

Net income fell to $160.5 million, or 67 cents per share, in the first quarter ended May 5, from $200.5 million, or 85 cents per share, a year earlier.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta

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