Dollar tree profit falls 2.6 percent

Thu Aug 21, 2014 7:53am EDT
 
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(Reuters) - Dollar Tree Inc (DLTR.O: Quote) reported a 2.6 percent fall in quarterly profit as costs increased.

Net income fell to $121.5 million, or 59 cents per share, in the second quarter ended Aug. 2 from $124.7 million, or $1.25 per share, a year earlier.

Revenue jumped 9.5 percent to $2.03 billion.

Same-store sales rose 4.5 percent on a constant-currency basis. Analysts on average had expected a 2.5 percent rise, according to research firm Consensus Metrix.

Dollar Tree, which operates the Dollar Tree, Deal$ and Dollar Bills stores, agreed to buy Family Dollar Stores Inc FDO.N in July. The bid has since been trumped by Dollar General Corp (DG.N: Quote).

(Reporting by Devika Krishna Kumar in Bangalore; Editing by Joyjeet Das)

 
A view of the sign outside the Dollar Tree store in Westminster, Colorado is seen in this file photo taken February 26, 2014. REUTERS/Rick Wilking/Files