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Dollar Tree's quarterly profit more than doubles

Nov 22 Dollar Tree Inc, the biggest U.S. dollar-store chain after its acquisition of Family Dollar in 2015, said quarterly profit more than doubled, helped by lower merchandise and freight costs.

Dollar Tree said its net income rose to $171.6 million, or 72 cents per share, in the third quarter ended Oct. 29 from $81.9 million, or 35 cents per share, a year earlier.

The prior year's third quarter had included charges and markdowns on Family Dollar.

Net sales rose to $5.00 billion from $4.95 billion.

Dollar Tree completed the acquisition of Family Dollar in July last year, meaning the latest quarter is the first in which there is a true year-on-year comparison of combined company's performance.

The company's shares up 5.5 percent in premarket trading on Tuesday. (Reporting by Sruthi Ramakrishnan in Bengaluru, Editing by Anil D'Silva)

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