UPDATE: Dollar Tree Posts Lower Q3 Profit

Dollar Tree DLTR reported a drop in its third-quarter profit. Dollar Tree's quarterly profit declined to $125.4 million, or $0.58 per share, from a year-ago profit of $155.4 million, or $0.68 per share. Its net sales climbed to $1.88 billion from $1.72 billion. However, analysts were estimating earnings of $0.60 per share on sales of $1.91 billion. Dollar Tree's same-store sales increased 3.1% in the quarter. Dollar Tree projects full-year earnings of $2.72 to $2.78 per share on sales of $7.86 billion to $7.92 billion. For the fourth quarter, it expects earnings of $1.01 to $1.07 per share. Dollar Tree shares declined 5.80% to $55.50 in pre-market trading.