Dollar Tree Inc reported a higher quarterly profit on Thursday and said it expects sales to rise during the current holiday quarter.
Sales rose 7.8 percent to $1.72 billion in the quarter that ended Oct. 27, while sales at stores open at least a year rose 1.6 percent, below the 2.4 percent increase expected by Wall Street analysts, according to Thomson Reuters I/B/E/S.
Dollar Tree, which sells items for $1 or less at its namesake chain, and at a variety of prices at its smaller Deal$ chain, said it expected earnings of 97 cents to $1.02 a share on sales of $2.2 billion to $2.26 billion in its fourth quarter.
The chain expects same-store sales to be flat to up by a low single-digit percentage this quarter.
Dollar Tree said it earned $155.4 million, or 68 cents per share in the fiscal third quarter, up from $104.5 million, or 43 cents per share, a year earlier.