Dollar Tree is Growing Lots of Dollars
This morning’s initial jobless claims were very bad news for retailers … unless you sell things for a dollar like Dollar Tree (DLTR). The discount retail outlet reported a whopping same-store sales jump of 6.7%. Dollar Tree President and CEO Bob Sasser said, “Sales were strong throughout the quarter, driven by increases in both traffic and average ticket.” Sounds like sales fertilizer to me.
Consolidated net sales for the second quarter were $1.38 billion, a 12.7% increase compared to $1.22 billion reported for the quarter ended August 1, 2009. Dollar Tree is also buying back shares. All-in-all, investors have good reason to be bidding up shares to the tune of 4.8%:
Disclosure: No position.