Dollar Tree's sales have soared over the past year, thanks in part to higher-income shoppers flocking to the chain, the company said Wednesday.

Net sales rose by 9.4 percent to $4.7 billion in the third quarter compared to the same period last year, while gross profit increased 10.8 percent to $1.7 billion, the company said in its earnings report.

Dollar Tree said that approximately three million more households shopped at its stores during the third quarter compared to last year. It added that around 60 percent of these shoppers were from households earning more than $100,000 per year.

"Today, we serve an increasingly broad spectrum of shoppers, from core value-focused households to middle- and higher-income shoppers who are making deliberate choices about how and where they spend,” ch

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