Dollar Tree 2008 outlook misses Street view

However, the company's latest 2008 profit projection was below expectations, sending its shares lower in morning trading. Dollar Tree shares lost $1.42, or 3.6 percent, to $37.76.

Dollar Tree raised its estimate of per-share profit for the full year to be between $2.33 and $2.43, from a previous prediction of $2.23 to $2.39 per share.

It now expects full-year revenue to be in the range of $4.61 billion to $4.68 billion, with same-store sales growth in the low- to low-mid single digit range. Previously, the company had anticipated annual sales of $4.52 billion to $4.63 billion.

On average, analyst polled by Thomson Reuters expect full-year earnings per share of $2.44 and revenue of $4.64 billion.

For the third quarter, Dollar Tree estimates it will earn per-share profit between 40 cents and 43 cents and report revenue of about $1.08 billion to $1.11 billion. It said Wednesday that same-store sales is expected to grow by a low- to low-mid-single digit percentage.

Analysts predict third-quarter per-share profit of 42 cents and revenue of about $1.08 billion, on average.