Sales gains lift Dollar Tree's 4Q profit 22 pct
Revenue at stores open at least one year rose 2.4 percent. That comparison is a key gauge of a retailer's health because it excludes stores that recently opened or closed.
Dollar Tree opened 47 stores, expanded or relocated six, and closed six during the fourth quarter. The company operates more than 4,670 stores in the U.S. and Canada.
Dollar Tree said it expects profit of 53 cents to 58 cents per share on revenue between $1.84 billion and $1.89 billion in the current quarter, in line with analysts' estimates.
For the full year ending January 2014 it expects earnings between $2.54 and $2.74 per share on revenue between $7.79 billion and $7.97 billion. Analysts expect earnings of $2.81per share on revenue of $7.88 billion.
The stock added $3.80, or 9.25 percent, to $44.88 in morning trading Wednesday. Shares have dropped 7 percent in the past 12 months.
Michael Felberbaum can be reached at http://www.twitter.com/MLFelberbaum .
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