(Reuters) – Dollar Tree Inc <DLTR.O> reported a surge in quarterly same-store sales on Thursday, joining rival Dollar General <DG.N>, as the discount retailer benefited from consumers stockpiling on groceries and other essentials due to the coronavirus crisis.
Same-store sales rose 7% in the first quarter ended May 2.
The company withdrew its full-year forecast due to the uncertainty caused by the coronavirus pandemic.
Net income fell to $247.6 million, or $1.04 per share, from $267.9 million, or $1.12 per share, a year earlier.
(Reporting by Uday Sampath in Bengaluru; Editing by Shailesh Kuber)
