CHESAPEAKE, Va. — Buoyed by strong performance at Valentine’s Day and Easter, Dollar Tree saw comparable-store sales increase by 6.5% in the first quarter, the company reported Thursday.
The variety chain offering everything for $1 or less said overall sales for the period ending May 1 improved 12.6% to $1.35 billion, and net earnings increased 4.7% to $63.6 million. Earnings were affected by a $26.3 million inventory charge.
Bob Sasser, chief executive officer, in a conference call said the chain performed especially well with seasonal goods as compared to a year ago. “This was the result of our merchants delivering an exciting assortment of products, the best values ever, and our allocations and logistics teams getting it to the right stores at the right time,” he said.