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Stock Alert: Dollar Tree Climbs 11%

Shares of discount variety store chain Dollar Tree, Inc. (NASDAQ: DLTR) are climbing more than 11% Thursday morning following upbeat first-quarter results.

The company reported earnings of $1.04 in the first quarter, beat the average estimate of analysts polled by Thomson Reuters at $0.91.

Net Sales for the quarter increased 8.2% year-over-year to $6.29 Billion. The consensus estimate was $6.11 billion. Same-store sales increased 15.5% for the Family Dollar segment and decreased 0.9% for Dollar Tree.

"Following a volatile sales environment in the first quarter, I am extremely pleased with the momentum we are seeing in our business early in the second quarter. With more than 38 million Americans filing unemployment claims in the past nine weeks, we believe that Dollar Tree and Family Dollar are part of the solution to help millions of families stretch their budgets to help make ends meet," said Gary Philbin, Chief Executive Officer.

DLTR is currently trading at $97.54. It has traded in the range of $60.20- $119.71 in the past 52-weeks.

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