UPDATE: Dollar Tree Posts 15% Rise In Q1 Profit, Lifts Full-Year Forecast

Dollar Tree

reported a 15% rise in its fiscal first-quarter earnings and lifted its full-year earnings forecast. Dollar Tree now expects full-year earnings of $2.61 to $2.77 per share on sales of $7.81 billion to $7.97 billion. The company in February expected earnings of $2.54 to $2.74 per share on sales of $7.79 billion to $7.97 billion. It also expects current-quarter earnings of $0.52 to $0.57 per share on sales of $1.81 billion and $1.86 billion. However, analysts were expecting earnings of $0.57 per share on sales of $1.86 billion. Dollar Tree's quarterly profit surged to $133.5 million, or $0.59 per share, from $116.1 million, or $0.50 per share, in the year-ago period. Its sales climbed 8.3% to $1.87 billion. The company in February projected earnings of $0.53 to $0.58 per share on revenue of $1.84 billion to $1.89 billion. Dollar Tree's gross margin widened to 35.2% from 35%, while same-store sales climbed 2.1%. Dollar Tree shares gained 2.13% to $49.40 in pre-market trading.