Shannon Stapleton | Reuters
A man enters a Dollar Tree discount store in Garden City, New York.
Discount store operator Dollar Tree on Thursday reported first-quarter same-store sales that missed analysts’ estimates as performance at its namesake and Family Dollar banner lagged due to colder-than-normal spring weather.
Sales at established stores open for more than a year rose 1.4 percent, lower than the average analysts’ estimate of 2.19 percent, according to Thomson Reuters I/B/E/S.
Net income fell to $160.5 million, or 67 cents per share, in the first quarter ended May 5, from $200.5 million, or 85 cents per share, a year earlier.