Dollar Tree Stores reported first quarter 2003 net earnings of $32.8 million, or 29 cents per share, a 16 percent increase over $28.1 million, or 25 cents a share, during the same period last year.
Dollar Tree, which operates 2,319 stores in 41 states, is considered the largest of the nation's $1 discount variety store chains.
Earlier this month the Virginia-based discount variety store announced it had signed an agreement to acquire Salt Lake-based Greenbacks All a Dollar for $100 million. Greenbacks operates 96 stores in 10 states. The deal is expected to close in June.
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Dollar Tree's net sales increased to $615.6 million during the quarter, up from $509.7 million a year ago.