Dollar Tree raises full-year profit outlook after first-quarter sales beat estimates

Dollar Tree reported first-quarter sales that exceeded analyst expectations and raised its full-year profit outlook. The company said customers purchased fewer items but spent more per transaction. Dollar Tree stock rose after the earnings release.

Tree did not disclose specific sales or profit figures in the initial announcement. The retailer attributed the results to shifts in consumer purchasing patterns. MarketWatch reported the earnings beat and the raised guidance in its coverage of the release.