UPDATE 1-Dollar Tree profit beats, raises outlook

* Q1 same-store sales up 6.5 pct

* Sees Q2 same store sales up in “low-to-mid single digit”

* Sees Q2 EPS $0.77-$0.85 vs Street View $0.75;

* Sees FY EPS ex charges $4.29-$4.50 vs Street View $3.48

NEW YORK, May 20 (BestGrowthStock) – Dollar Tree Inc (DLTR.O: )
reported a larger-than-expected quarterly profit on Thursday on
higher customer traffic and more spending per visit, and the
retailer raised its profit outlook.

Dollar Tree, which sells most of its merchandise for $1,
said first-quarter net income rose to $63.6 million, or 73
cents per share, from $60.4 million, or 66 cents per share, a
year earlier.

Excluding a one-time charge related to its inventory,
Dollar Tree reported earnings of 92 cents per share, above
analysts’ average forecast of 84 cents, according to Thomson
Reuters I/B/E/S.

Sales at stores open at least a year, a gauge known as
same-store sales, rose 6.5 percent during the quarter, which
ended May 1, and the retailer expects same-store sales to be up
in the “low-to-mid single digit” range in the current quarter.

On that basis, Dollar Tree forecast earnings per share of
between 77 cents and 85 cents during the quarter, above Wall
Street forecasts of 75 cents.

For the full year, Dollar Tree now expects a profit of
between $4.29 and $4.50 per share, excluding certain charges.
Wall Street analysts have forecast earnings per share of
$3.48.

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(Reporting by Phil Wahba, editing by Dave Zimmerman)

UPDATE 1-Dollar Tree profit beats, raises outlook