RICHMOND (AP) -- Chesapeake-based Dollar Tree says its net income increased more than 15 percent in the fourth quarter as consumers spent more at the discount retailer.
The company said Wednesday that it earned $187.9 million, or $1.60 per share, for the period ended Jan. 29. That's up from $162.5 million, or $1.29 per share, a year ago.
Dollar Tree says its net sales increased nearly 18 percent to $1.95 billion. Sales at stores open at least one year increased 7.3 percent. That comparison is a key gauge of a retailer's health because it excludes stores that recently opened or closed.
The company operates more than 4,350 stores in the U.S. and Canada. It opened 21 stores, closed five, and expanded or relocated three during the quarter.
AP-WF-02-22-12 1355GMT
