Discount variety stores operator Dollar Tree, Inc. (DLTR) Thursday said its fourth-quarter same-store sales rose 6.6%, while net sales for the period grew over 12.4% from last year.
The company reported consolidated net sales of $1.56 billion for the fourth quarter, up 12.4% from the $1.39 billion reported for the quarter ended January 31, 2009. On average, 18 analysts polled by Thomson Reuters expected revenues of $1.53 billion for the quarter.
For the full year 2009, net sales were $5.23 billion, a 12.6% increase compared to the $4.64 billion reported last year. Comparable-store sales for full year 2009 increased 7.2%.
According to President and CEO Bob Sasser, "Our sales momentum continued in the fourth quarter. Our Christmas business was better than ever and sales remained strong through the end of the quarter, as our stores executed a quick transition to 'Game Day' and Valentine's Day. The increase in comparable-store sales for the quarter was driven principally by continued growth in traffic. Average ticket also increased in the fourth quarter."
Dollar Tree is scheduled to report fourth quarter results on February 23, 2010. Analysts currently expect the company to report earnings of $1.38 per share for the fourth quarter. Analysts' estimates typically exclude special items.
In the preceding third quarter, Dollar Tree earned $68.2 million or $0.76 per share, compared to $43.1 million or $0.48 per share in the year-ago quarter. Quarterly net sales grew to $1.25 billion from the previous year's $1.11 billion.
Dollar Tree, a Fortune 500 Company, operated 3,806 stores in 48 states as of January 30, 2010, compared to a total of 3,591 stores in 48 states a year ago.
DLTR closed Thursday's regular trading at $49.09, down $2.10 or 4.10%, on a volume of 3.19 million shares on Nasdaq.
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