Dollar Tree items will soon cost you more than $1

Dollar Tree items will soon cost you more than $1

About 1,000 stores in the Dollar Tree chain will begin selling alcohol, the company announced today.

Dollar Tree results also got a boost from a turnaround at its struggling Family Dollar brand.

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Trump escalated the trade war this month by increasing duties on $200 billion of Chinese imports from 10% to 25%, claiming China backtracked on commitments it made in earlier negotiations.

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The company has not yet announced which Family Dollar locations will be included in the upcoming inventory expansion.

Reuters reports both companies reported strong quarterly sales Thursday, sending shares up about 6 percent, but executives for both companies said the cost of tariffs will likely be shifted to consumers. Same-store sales for the brand rose 1.9% in the first quarter, the best growth in two years, beating analysts estimates of a 1.1% rise, according to IBES data from Refinitiv. Dollar Tree has groceries, kitchenware, party decorations, and other necessities. They anticipate closing as many as 390 stores.

"The steps being taken to improve performance at Family Dollar appear to be working", managing director of GlobalData Retail Neil Saunders said.

While net sales are up by 4.6 percent from the prior year's first quarter, Dollar Tree says it plans to close almost 400 underperforming stores.

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