News Summary: Sales boost Dollar Tree 1Q profit

News Summary: Discount retailer Dollar Tree's 1Q profit jumps 15 pct on higher sales, margins

Associated Press

DOLLAR AT A TIME: Discount retailer Dollar Tree Inc. said Thursday that its net income increased 15 percent in the first quarter as consumers spent more at its stores, which sell goods for $1 or less. Revenue rose 8 percent.

THE ATTRACTION: Dollar stores offer a wide variety of products, from beach toys to vitamins. They have done well throughout the recession and its aftermath, attracting budget-conscious customers with low prices.

THE BOSS: CEO Bob Sasser said he believes Dollar Tree is "more relevant than ever" as consumers' economic concerns persist and they are burdened with higher taxes, high unemployment and stubborn gas prices. It operates more than 4,760 stores in the U.S. and Canada.

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