By Freddie Mooche

(AXcess News) Washington - Discount retailer, Dollar Tree (Nasdaq: DLTR), reported a 58% increase in third quarter profit Tuesday as consumers looked to save more cash by shopping at discount stores.  The results beat estimates and as a result, lifted Dollar Tree's shares over 2.4%.

Dollar Tree said it earned $68.2 million in the third quarter, or 76 cents per share, compared to $43.1 million, or 47 cents per share, in the year ago period.

Same-store sales in the third-quarter rose 6.5%, the Company said.  Sales for the period rose 12% to $1.25 billion from $1.11 billion a year ago.

Dollar Tree CEO Bob Sasser said Halloween and fall sales were exceptionally good at all of the Companies stores.  During the third quarter, Dollar Tree opened 94 new locations.

Shares of Dollar Tree were trading up $2.30, or 4.68%, at $51.40.

Market quote is as of 12:30AM ET.