Dollar Tree, Inc. has posted net income of $124.7 millions and earnings per diluted share of 56 cents for the second quarter versus the period a year ago when it reported net income of $119.2 million and earnings per share of 51 cents. Comparable store sales increased 3.7% versus the 2012 quarter, Dollar Tree announced.
Net sales for the quarter were $1.85 billion as compared with $1.7 billion in the year-prior period, Dollar Tree stated. Operating margin advanced by 10 basis points to10.9% the company maintained, adding that operating income reached to $201.3 million from $184.4 million in the 2012 quarter.
“I am pleased with our second quarter performance,” Dollar Tree CEO Bob Sasser said in announcing the company’s finanacial results. “Sales, customer traffic, average ticket, earnings and operating margin all continue to grow. Customers are responding in record numbers to our outstanding values in both discretionary and consumable merchandise categories. Our stores are well-stocked with a terrific merchandise presentation for back- to- school and the fall selling season.”
In the second quarter, Dollar Tree opened 81 stores, expanded or relocated 32 and closed two.