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Dollar Tree's Profit Grows 45% in Second Quarter

TheMotleyFool

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Dollar Tree's Profit Grows 45% in Second QuarterPhoto, wide shot, wide-angle lens, Toy manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/2788fcd3-d339-4592-8f5c-a3b9125dc61f.png

On Aug. 27, Dollar Tree (NASDAQ: DLTR) reported earnings for the second quarter of 2020. The company owns both the Dollar Tree and Family Dollar discount-retail chains. Including results from both chains, total net sales increased 9% year over year to $6.3 billion. Net income surged a more robust 45% to $262 million.

Dollar Tree was able to grow its bottom line due to several factors. These include gaining operational leverage from higher sales per location and also offering fewer discounts to its customers. It appears consumers didn't need to be incentivized with better bargains while shopping for the essentials during a global pandemic.

Image source: Getty Images.

Source Fool.com

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