UPDATE: Dollar Tree Reports Upbeat Q2 Profit, Lifts Full-Year Earnings Forecast

Dollar Tree Inc (NASDAQ: DLTR) reported a 22% rise in its fiscal second-quarter earnings and lifted its earnings forecast for the year.

Dollar Tree reported its quarterly profit at $94.9 million, or $0.77 per share, up from $78 million, or $0.61 per share, in the year-ago period. Its net sales surged 12% to $1.54 billion. Its same-store sales climbed 4.7%. However, analysts were expecting earnings of $0.75 per share on revenue of $1.55 billion.

Dollar Tree now projects full-year earnings of $3.82 to $3.95 per share, up from its earlier outlook of $3.69 to $3.85 per share. It narrowed its sales forecast to $6.53 billion to $6.62 billion, versus $6.5 billion to $6.63 billion.

DLTR shares closed at $66.47 yesterday.