That wider range of products particularly appeals to shoppers from households with incomes of at least $100,000 annually. Such customers drove a "meaningful portion" of Dollar Tree's second-quarter sales growth, Creedon said. Dollar Tree largely beat analysts' expectations for the period, including with 6.5% growth in same-store net sales.

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Off-price retailer Dollar Tree gave a downbeat outlook for the current quarter, despite raising its full-year outlook.