The retailer reported third-quarter adjusted earnings of $1.12 a share on sales of $7.56 billion, beating analysts' expectations.

Retailer opens 249 new stores, books a 1.5% increase in traffic and says its Family Dollar review is on track.

Dollar Tree's third-quarter profit and sales beat market expectations on Wednesday, as more customers shopped at its discount stores for non-expensive essentials including groceries, sending its shares up about 10% in premarket trading.