Dollar Tree Net Picks Up 16 Percent in Q4, 23 Percent for Fiscal Year
February 22, 2012,
CHESAPEAKE, Va.-The bottom line for dollar-store chain Dollar Tree continued its upward curve in the fourth quarter, with a 16 percent gain in net income to $187.9 million.
The result for the quarter, which ended on Jan. 29, brought the company's net profit for the fiscal year to $488.3 million, up 23 percent over the prior fiscal year. Net sales for both the quarter and the year rose 13 percent, bringing the fourth-quarter total to $1.9 billion and finishing the year at $6.6 billion. Same-store sales logged in increases of 7.3 percent for the quarter and 6 percent for the year.
For the current fiscal year, Dollar Tree is forecasting a sales increase of between 9.3 percent and 12 percent. Same-store sales should rise in the low to mid-single digits, the company said.