Dollar Tree (NASDAQ: DLTR ) stock lost a few dollars following the release of the discount retailer's Q3 results. Net sales during the quarter came in at $1.88 billion, bettering the $1.72 billion in the same period the previous year. Net income veered in the opposite direction, dropping to $125 million ($0.58 per diluted share) from Q3 2012's $155 million ($0.68).
Analysts had expected net sales of $1.91 billion and EPS of $0.60.
In the press release detailing the results, Dollar Tree quoted CEO Bob Sasser as saying the increase in sales was "the result of growth in both consumer basics and growth in seasonal and variety merchandise, with our higher margin variety categories growing at a faster pace."
Dollar Tree also provided forward guidance for its current Q4, and updated its view for fiscal 2013. For the former, it believes it will post a top line of $2.25 billion to $2.31 billion, with diluted EPS amounting to $1.01 to $1.07. For the full year, sales are now anticipated to be $7.86 billion to $7.92 billion, and EPS $2.72 to $2.78.
Following the announcement of the results, the company's stock was discounted by 4.5%, or $2.64, to end the day at $56.28 per share.