Dollar Tree net income falls on varied sales

Chesapeake, Va. -- Net income fell at Dollar Tree Inc. during the fourth quarter and fiscal year 2013, while net sales fell during the quarter and rose during the year. On a year-over-year basis, net income during the fourth quarter declined about 7% to $213 million from $228.6 million, and during the full year fell about 4% to $596.7 million from $619.3 million.

Net sales fell slightly to $2.23 billion from $2.24 billion during the quarter, and climbed 6% to $7.84 billion from $7.39 billion during the year. Same-store sales grew 1.2% during the quarter and 2.4% during the year. Dollar Tree cited the extra week in the fourth quarter and full fiscal year 2012, as well as continued economic challenges, as impacting results.

“I am proud of the company’s performance in the fourth quarter and full year 2013,” said Bob Sasser, CEO “Dollar Tree delivered record earnings and our comparable-store sales grew, despite severe weather, a shorter Holiday selling period and a challenging economic environment. More customers are shopping Dollar Tree, responding to our incredible values and convenient shopping experience. Our inventories are fresh and our stores are full of exciting merchandise for the spring season.”

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