Global Entertainments

RICHMOND, Va. - Discount banker Dollar Tree Inc. said Thursday that its net assets added about 26 percent in the additional division as consumers spent added at its aliment that advertise appurtenances for $1 or less.

But investors awash off shares as the after-effects and angle fell abbreviate of Wall Street expectations.

Dollar stores, which action a advanced array of articles from bank toys to vitamins, accept done able-bodied throughout the recession and its aftermath, alluring budget-conscious barter with low prices. They've
additionally answer themselves as accessible to cross and accessible to get to, back they're abundant abate than big-box aliment like Wal-Mart and Target, and usually accept added locations throughout any accustomed city.

"In our accepted abridgement with barter disturbing to antithesis their ancestors budgets in the face of agilely aerial unemployment and now capricious ammunition prices, abounding bodies are award Dollar Tree to be a destination for high-value customer products," CEO Bob Sasser said in a appointment alarm with investors.

The Chesapeake, Va.-based alternation said it becoming $119.2 million, or 51 cents per share, for the three months concluded July 28, up from $94.9 million, or 39 cents per share, a year ago, topping analysts' expectations of 47 cents per share.

Net sales added 10.5 percent to $1.7 billion from $1.54 billion a year ago. Analysts polled by FactSet accepted acquirement of $1.71 billion.

Sales at aliment accessible at atomic one year rose 4.5 percent. That allegory is a key barometer of a retailer's bloom because it excludes aliment that afresh opened or closed.

The aggregation operates added than 4,520 aliment in the U.S. and Canada. It opened 77 stores, broadcast or relocated 21, and bankrupt bristles during the additional quarter.

Top-selling items during the division included home products, aliment and beverages, bloom affliction food and toys.

Sasser said Dollar Tee continues to bear consistently able sales and earnings, but the aggregation said it expects to acquire 47 to 51 cents per allotment on acquirement amid $1.71 billion and $1.75 billion in the third quarter, abbreviate of the 52 cents and $1.77 billion in sales accepted by analysts.

Dollar Tree additionally said it expects 2012 net assets amid $2.45 and $2.54 per share, on acquirement amid $7.36 billion and $7.45 billion on low- to mid-single-digit sales advance at aliment accessible at atomic a year.

The aggregation additionally accomplished a two-for-one banal breach during the quarter, which it had said would lower its allotment amount and accomplish the banal added adorable to investors.

Dollar Tree shares fell 89 cents to abutting at $49.11. The banal alone as low as $38.40 during the session. It has ranged from $30.56 to $56.82 in the aftermost 52 weeks.