Shares of discount store operator Dollar Tree, Inc. (DLTR) are rising more than 9% Tuesday morning on better-than-expected third-quarter results.
Net income for its third quarter rose to $330.0 million or $1.39 per share, from $255.8 million or $1.08 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share for the quarter.
Net sales for the third-quarter increased 7.5% to $6.18 billion from $5.75 billion last year. Analysts expected revenues of $6.12 billion for the quarter.
The sees the completion of about 480 new store openings and 750 Family Dollar H2 store renovations in fiscal 2020.
DLTR is currently trading at $105.79. It has traded in the range of $60.20- $113.35 in the alst one year.
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