As part of its sales outlook for the fourth quarter, Dollar Tree said it was attracting more customers with high-incomes which could drive growth in high-margin discretionary product categories, reports MarketWatch.
During a post-earnings call with analysts, Dollar Tree said it had added 4.3 million new customers over the past 12 months.
“Most of our new customers over the past year have household incomes over $125,000, and this income demographic was a significant contributor to Dollar Tree’s quarter-three [same-store sales] growth,” said CEO Rick Dreiling on the call.
Same-store sales from Dollar Tree-branded stores grew 5.4 percent, just below expectations of a 5.7 percent rise, as traffic increased 7 percent while the average ticket fell 1.5 percent. Full Story
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