Dollar Tree Inc. /zigman2/quotes/203712248/composite DLTR -0.35% shares jumped 3.4% in Thursday premarket trading after the discount retailer reported first-quarter earnings and sales that beat expectations. Net income totaled $247.6 million, or $1.04 per share, down from $267.9 million, or $1.12 per share, last year. Sales totaled $6.29 billion, up from $5.81 billion last year. The FactSet consensus was for EPS of 85 cents and sales of $6.14 billion. Same-store sales increased 7%, with Family Dollar up 15.5% and the namesake Dollar Tree down 0.9%. Dollar Tree's same-store sales were hurt by declines during the Easter holiday, with the party, candy and Easter categories down 490 basis points, according to a statement from Mike Witynski, enterprise president of the company. However, the chain bounced back with discretionary sales improving for things like Mother's Day, balloons and graduation, according to Gary Philbin, chief executive of Dollar Tree. "With more than 38 million Americans filing unemployment claims in the past nine weeks, we believe that Dollar Tree and Family Dollar are part of the solution to help millions of families stretch their budgets to help make ends meet," Philbin said in a statement. Dollar Tree's portfolio of stores are considered essential businesses with all 15,300-plus stores open for business. Store hours have been modified for cleaning and restocking, contactless payment options have been added and other measures taken in light of the coronavirus pandemic. Dollar Tree previously withdrew its guidance, and expects capex for the year of $1.0 billion compared with the previous expectation of $1.2 billion. Dollar Tree ended the quarter with $1.76 billion in cash after drawing down $750 million from its revolving line of credit. Dollar Tree stock is down 7% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.53% has fallen 6% for the period.