CHESAPEAKE, Va. — Dollar Tree Inc. today reported fiscal first-quarter earnings of $374.5 million.
The company said it had net income of $1.60 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.
The discount retailer posted revenue of $6.48 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $6.4 billion.
Dollar Tree expects full-year earnings to be $5.80 to $6.05 per share.
Dollar Tree shares have increased slightly since the beginning of the year, while the S&P’s 500 index has increased 12%. The stock has increased 27% in the past 12 months.