Dollar Tree's sales up 7.8 percent in first quarter

Posted to: Business Chesapeake

By Carolyn Shapiro
The Virginian-Pilot
© May 9, 2008

Dollar Tree Inc. announced that sales for the first quarter of 2008 topped $1 billion, up 7.8 percent from the same period last year and exceeding the company's projections.

Sales in comparable stores, open at least 12 months, rose about 2 percent for the quarter, according to the retailer, based in Chesapeake. Food, health and beauty items and party supplies drove sales. Dollar Tree, which operates the nation's largest chain selling everything for a dollar, plans to release and discuss its full earnings results for the quarter May 28.

"When customers are pressured by rising prices, they know that we have the things they need and want for just $1 every day," Bob Sasser, the retailer's president and chief executive, said in a statement.