CHESAPEAKE, Va. — Dollar Tree on Thursday posted first-quarter consolidated net sales of $2 billion, a 7.2% increase, for the period ended May 4. Consolidated comparable store sales increased 2% on a constant currency basis. Adjusted for the impact of Canadian currency fluctuations, the comparable-store sales increase was 1.9%.
"Our first quarter sales grew as the result of increases in both traffic and average ticket with our discretionary business growing slightly faster than consumables," stated Dollar Tree CEO Bob Sasser. "Leading categories during the quarter included candy, check-out products, stationery and seasonal merchandise for Valentines and Easter."
During the first quarter, Dollar Tree opened 94 stores, closed 6 stores, and expanded or relocated 28 stores. Retail selling square footage increased 6.8% compared to a year ago, to 44 million square feet.