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Dollar Tree Inc. (NASDAQ: DLTR) released its most recent quarterly report before the markets opened on Thursday. The dollar store posted $0.99 in earnings per share (EPS) on $5.28 billion in revenue, while consensus estimates from Thomson Reuters had predicted $0.87 in EPS and revenue of $5.24 billion. The fiscal second quarter of last year reportedly had EPS of $0.72 and $5.0 billion in revenue.

In the second quarter, enterprise same-store sales increased 2.4%. The same-store sales growth was driven by increases in comparable transaction count and average ticket. Same-store sales for the Dollar Tree segment increased 3.9%, while same-store sales for the Family Dollar segment increased 1.0%.

During the quarter, the retailer opened 133 stores, expanded or relocated 31 stores and closed 34 stores.

In terms of the outlook for the fiscal third quarter, Dollar Tree expects EPS in the range of $0.83 to $0.90 and revenues between $5.20 billion and $5.29 billion. The consensus estimates are $0.87 in EPS and $5.26 billion in revenue in the quarter.

On the books, Dollar Tree cash, cash equivalents and short-term investments totaled $697.3 million at the end of the quarter, down from $870.4 million at the end of the previous fiscal year.

Bob Sasser, CEO of Dollar Tree, commented:

Both Dollar Tree and Family Dollar produced positive same-store sales, our enterprise operating margin improved 80 basis points and earnings per share exceeded the high end of our guidance range. Consumers continue to view Dollar Tree and Family Dollar as stores that provide great value and convenience.

Shares of Dollar Tree were last seen up about 8% at $80.31, with a consensus analyst price target of $88.35 and a 52-week range of $65.63 to $91.41.