CHESAPEAKE, Va. — Dollar Tree here said Thursday it would add coolers for fresh food to 100 more stores this year than it initially anticipated, with plans to capitalize on the traffic and comparable-sales boost those offerings bring.
Speaking in an earnings call with analysts, Bob Sasser, Dollar Tree's chief executive officer, said the chain would add coolers to 325 stores this year, up from earlier projection of 225. The additional stores would allow perishable food to be in roughly half of Dollar Tree’s stores by fiscal year-end.
In financial results for the first quarter, which ended May 1, Dollar Tree posted net income of $101 million, a 6.5% increase, on a 14.5% sales increase, to $1.5 billion. Comparable-store sales improved by 7.1% as traffic and average ticket increased as a result of more food sales and successful seasonal promotions for Valentine's Day and Easter, Sasser said.