Dollar Tree profit jumps 20 percent, shares rise
Posted on 7:51 AM, under Beliefs, Earnings, economy, Perception, Stocks
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NEW YORK (Reuters) - Discount retailer Dollar Tree Inc (DLTR.O: Quote, Profile, Research, Stock Buzz) said on Tuesday quarterly profit rose 20 percent as more customers came into its stores for low prices on basic items like food and cleaning supplies.
While other retailers have cut their sales and profit forecast for the crucial year-end holiday quarter, Dollar Tree, which sells most of its merchandise for $1, expects its momentum to continue into the fourth quarter as shoppers look to stretch limited budgets.
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