Dollar Tree profit rises 22% in Q2

Chesapeake, Va. -- Dollar Tree reported Thursday that net income for the quarter ended July 31 surged 21.7% to $94.9 million, compared with $78 million in the year-ago period. The rise marks the fifth straight quarter of double-digit profit increases.

Revenue rose 12% to $1.54 billion, just missing Wall Street estimates. Same-store sales increased 4.7%.

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