FINANCE

Dollar Tree net income rises 12% in Q3

BY Katherine Boccaccio

Chesapeake, Va. — Dollar Tree reported Thursday that profit for the third quarter rose 12.1% to $104.5 million, from $93.2 million a year earlier.

Revenue rose 11.9% to $1.6 billion, surpassing Wall Street’s expected $1.58 billion. Performance has been consistent with the strength of the category, as the discounter has recorded double-digit year-over-year percentage revenue increases over the past five quarters.

Same-store sales rose 4.8% in the third quarter.

"I am very pleased with the company’s performance in the third quarter," said president and CEO Bob Sasser. “Dollar Tree achieved double-digit growth in sales, operating margin and earnings per share against a very strong performance last year.”

During the third quarter, Dollar Tree opened 98 stores, expanded or relocated 24 stores, and closed five stores. Retail selling square footage increased 8.7% compared with a year ago, to 37.4 million sq. ft.

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FINANCE

Williams-Sonoma profit up 19% in Q3

BY Katherine Boccaccio

San Francisco – Williams-Sonoma Inc. reported Thursday that profit for the third quarter rose 19% to $43.4 million, from $36.5 million in the same period last year.

Revenue rose 6% to $867.2 million, compared with $815.5 million last year and solidly beating Wall Street’s expected $855.7 million in revenue.

Same-store sales overall rose 7.3%, comprised of a 7% rise in the company’s Pottery Barn stores, a 5.2% rise at Pottery Barn Kids and a 27% surge at West Elm. Same-store sales at namesake stores were up a slight 0.1%.

E-commerce revenue rose 15% to $339 million.

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FINANCE

PetSmart Q3 profit up 22%

BY Staff Writer

Phoenix — PetSmart Inc. reported Thursday that net income for the quarter ended Oct. 30 rose 22% to $56.2 million, from $45.6 million a year earlier.

Revenue rose nearly 8% to $1.5 billion from $1.4 billion, just beating Wall Street’s expected $1.49 billion in revenue. Same-store sales increased 6.1%.

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