Dollar Tree revenue, profit up for the fourth quarter
Earnings report: Dollar Tree Inc., fourth quarter
THE TAKE: Chesapeake-based Dollar Tree Inc. reported a 15.4 percent increase in revenue during the fourth quarter as sales grew organically and through store openings. Sales at existing stores grew 2.4 percent. During the fourth quarter, the discount retailer opened 47 stores, expanded and relocated six stores, and closed another six. Sales for the year were up 11.5 percent to $7.4 billion. Profit rose 26.8 percent in 2012 to $619.3 million.
Total revenue: $2.2 billion in the fourth quarter, up 15 percent from $1.9 billion in the fourth quarter of 2011.
Profit: $228.6 million in the quarter, up 21.7 percent from $187.9 million in the previous year.
Earnings per share: $1.01 per diluted share, up from 80 cents per diluted share the previous year.
THE COMPANY’S TAKE: “I am pleased with the growth of Dollar Tree’s sales and earnings in the fourth quarter and for the year of 2012,” President and CEO Bob Sasser said in a statement. “On top of a very strong fourth-quarter performance in 2011, average basket size increased and customers responded this year in record numbers. These results were achieved through the efforts of thousands of Dollar Tree associates across North America, working every day to provide a unique assortment of merchandise at great values in stores that are clean, bright, and fun to shop.”