Dollar Tree net income rises 12% in Q3

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