Dollar stores expand in down economy

By Laura Geller - bio | email

Posted by Terry Alexander - email

RICHMOND, VA (WWBT) - Despite the economic downturn at least one store is actually reporting profits. The Dollar Tree says its fourth quarter earnings nationwide are up eleven percent.

In 2008 Dollar Tree opened more than 200 new stores across the country. The national discount chain says consumers are relying on the store because they can make the most out of their household budgets.

"If you need a can of spaghetti sauce, you can get a can of spaghetti sauce for a dollar and two packages of pasta. And that's a couple of meals. So you can really make it stretch," said Dollar Tree shopper Merri Faulkner.

"I worry about saving what I don't have to spend. That's the most important part now everybody wants to hold on to what they have at this point," said George Chirkinian, Dollar Tree shopper.

For 2008 dollar tree's sales totaled four-point- six billion. The chain estimates that will increase this year to around five billion.

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