CHESAPEAKE, Va. — Dollar Tree here, which operates 3,925 stores, sees the potential to expand its base to up to 7,000 locations, Bob Sasser, president and chief executive officer, told analysts Thursday in a conference call discussing second-quarter results.
The company will end the year with 230 more new stores, for a total of 4,155, he said.
For the second quarter, which ended July 31, Dollar Tree said its net income rose 37.1% to $78 million, while sales increased 12.7% to $1.4 billion and comparable-store sales jumped 6.7%. For the half, net income was up 20.7% to $141.6 million, while sales grew 12.7% to $2.7 billion and comps rose 6.6%.
Sasser said Dollar Tree plans to drive additional traffic by adding frozen and refrigerated foods to another 10% of its store base this year. The company added freezers and coolers at 117 stores during the quarter, to bring distribution to 43% of the chain, and it expects to install coolers at another 46 stores through the balance of the year, which will bring distribution up to 53% of the existing store base.
