November 29, 2018 / 12:37 PM / a year ago

Dollar Tree's quarterly same-store sales miss estimates

Nov 29 (Reuters) - Discount store operator Dollar Tree Inc missed analysts’ estimates for quarterly same-store sales on Thursday, hit by weak sales at its Family Dollar business and name-sake brand as a strong economy encouraged customers to upgrade and make their purchases at more premium stores.

Sales at stores open for at least a year rose 1 percent, compared to analysts’ expectations of a 1.46 percent increase, according to IBES data from Refinitiv.

Net income rose to $281.8 million, or $1.18 per share, in the third quarter ended Nov. 3, from $239.9 million, or $1.01 per share, a year earlier. (Reporting by Ishita Chigilli Palli and Soundarya J in Bengaluru; Editing by Shounak Dasgupta)

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