Summary
Dollar Tree's sales have increased significantly, with many new customers coming from higher-income households. The company reported that its net sales for the third quarter rose by 9.4% compared to last year, and it plans to continue attracting wealthier shoppers.
Key Facts
- Dollar Tree's net sales increased by 9.4% to $4.7 billion in the third quarter.
- Gross profit went up by 10.8% to $1.7 billion during the same period.
- Approximately three million more households shopped at Dollar Tree in the third quarter compared to last year.
- Around 60% of new customers earn more than $100,000 annually.
- Same-store net sales increased by 4.2% compared to the previous year.
- Year-to-date results showed an 11% rise in net sales to $13.9 billion.
- The company expects fourth-quarter sales to be between $5.4 billion and $5.5 billion.
- Dollar Tree aims to inspire loyalty among its higher-income customers.
