Nov. 21 (UPI) -- Dollar Tree faced a profit loss of 19 percent, and weaker earnings than Wall Street expected.
Profits fell to $125.4 million, or 58 cents a share, down from $155.4 million or 68 cents a share in the year-ago period.
Revenue increased 9.5 percent to $1.88 billion for the retailer, which sells goods for $1 or less. But analysts still expected revenue to be higher, at $1.91 billion.
Regardless, Dollar Tree CEO Bob Sasser said in a statement that he was "pleased" with company performance "during a very cautious consumer environment." While overall retail sales were up for October, retailers faced consumers wary to spend with stagnant wages.
This comes after much bigger retailers -- Walmart, Best Buy and Target -- also saw earnings squeezed by sparse consumer spending. Though more expensive chains such as Macy's and its Bloomingdale's sister chain performed better than expected.
Dollar Tree shares declined more than 4 percent to $56.50 in trading by 2:15 pm in New York.