CHESAPEAKE, Va. — Dollar Tree Inc. today reported fiscal second-quarter profit of $261.5 million.
On a per-share basis, the company said it had net income of $1.10.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The discount retailer posted revenue of $6.28 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $6.23 billion.
Dollar Tree shares have increased 11% since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 8%. The stock has increased nearly 9% in the past 12 months.