May 26 (Reuters) - Dollar Tree Inc increased its sales forecast for the year on Thursday benefiting from more Americans turning to discount stores as record high inflation depletes their spending power.
The discount store chain forecast fiscal 2022 net sales to be in the range of $27.76 billion to $28.14 billion, compared with its prior forecast of $27.22 billion to $27.85 billion. Analysts on average expect $27.95 billion, according to IBES data from Refinitiv.
Dollar Tree shares surged 12% in premarket trading.
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