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Dollar Tree fiscal Q1 profit climbs YOY

Dollar Tree Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to 67 cents per share, compared with the S&P Capital IQ consensus estimate of 66 cents per share.

EPS rose 12.5% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $139.9 million, an increase from $134.8 million in the prior-year period.

The normalized profit margin declined to 7.0% from 7.2% in the year-earlier period.

Total revenue increased 7.2% year over year to $2.00 billion from $1.87 billion, and total operating expenses rose 7.2% on an annual basis to $1.77 billion from $1.65 billion.

Reported net income rose on an annual basis to $139.2 million, or 67 cents per share, from $132.9 million, or 59 cents per share.