August 29, 2019 / 11:52 AM / 25 days ago

Dollar Tree's same-store sales exceed Wall Street expectations

FILE PHOTO: An advertising sign is pictured at a Dollar Tree store in Pasadena, California August 31, 2015. REUTERS/Mario Anzuoni

(Reuters) - Dollar Tree Inc (DLTR.O) reported better-than-expected quarterly same-store sales on Thursday as the company’s Family Dollar chain posted its best growth since being acquired in 2015.

The Chesapeake, Virginia-based company reported a 2.4% rise in same-store sales in the second quarter ended Aug. 3. Wall Street analysts had forecast a 1.93% rise, according to IBES data from Refinitiv.

Net income fell to $180.3 million, or 76 cents per share, from $273.9 million, or $1.15 per share, a year earlier.

Reporting by Nivedita Balu in Bengaluru; Editing by Saumyadeb Chakrabarty

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