For the quarter ended May 4, Dollar Tree, Inc. reported net income of $133.5 million and earnings per diluted share of 59 cents versus net income of $116.1 million and earnings per diluted share of 50 cents in the 2012 period. Comparable store sales increased 2.1%, in the first quarter year over year.
A published Thomson Reuters consensus analyst earnings estimate was for first quarter diluted earnings per share of 57 cents.
First quarter net sales were $1.87 billion, an 8.3% gain versus the year-earlier period and, the company asserted, a record for the time frame. Operating income was $216.6 million compared to $188 million in the prior-year period
“I am pleased with the company’s first quarter performance,” said Dollar Tree president and CEO, Bob Sasser. “Sales continued to grow, our earnings per share increased by 18%, and we achieved the highest first-quarter operating margin in the company’s history.”
In the first quarter, Dollar Tree opened 94 stores, closed two and expanded or relocated 16.