CHESAPEAKE, Va.–(BUSINESS WIRE)–Dollar Tree, Inc. (NASDAQ: DLTR), North America’s arch abettor of abatement array stores, today appear after-effects for its aboriginal budgetary division concluded April 30, 2016.
Aboriginal Division After-effects
Circumscribed net sales added 133.6% to $5.09 billion from $2.18 billion in the above-mentioned year’s aboriginal quarter. The $2.91 billion access included $2.70 billion in sales from Family Dollar stores, sales from new Dollar Tree stores, and a 2.3% same-store sales increase, on a connected bill basis. Same-store sales, on a connected bill basis, added 3.4% in the prior-year period. Adjusted for the appulse of Canadian bill fluctuations, the same-store sales access was 2.2%. The absolute same-store sales were apprenticed by increases in both chump affairs and boilerplate ticket.
Gross accumulation added 107.6%, to $1.55 billion in the aboriginal division compared to $748.9 actor in the above-mentioned year’s aboriginal quarter. The $805.7 actor access included $733.8 actor of gross accumulation for Family Dollar, and a 9.6% access in Dollar Tree’s gross accumulation for the quarter. As a percent of sales, gross allowance decreased to 30.6% compared to 34.4% in the above-mentioned year. The primary contributors to the abatement were the appulse of the all-embracing lower-margin artefact mix for the Family Dollar business and $6.3 actor for Family Dollar accompanying to the acquittal of the stepped up account basis. Gross allowance for the Dollar Tree articulation was collapsed at 34.4% back compared to the above-mentioned year’s quarter.
Selling, accepted and authoritative costs were 22.3% of sales compared to 23.7% of sales in the above-mentioned year’s aboriginal quarter. Excluding $10.4 actor in accretion costs from the above-mentioned year’s period, selling, accepted and authoritative expenses, as a percent of sales, decreased to 22.3% from 23.2%. This 90 abject point advance resulted from lower payroll, operating and accumulated expenses, as a percent of sales, partially account by college abundance adjustment and aliment costs and depreciation.
Operating assets added 79.9% to $418.7 actor compared with $232.8 actor in the aforementioned aeon aftermost year. This access is the aftereffect of $138.0 actor of operating assets in the Family Dollar articulation and a $47.9 actor access in operating assets in the Dollar Tree segment.
The Company’s able tax amount for the division was 29.8% compared to 38.6% in the above-mentioned year period. The lower able tax amount was primarily attributable to a ancient account accompanying to accompaniment tax planning, which contributed $0.09 to balance per share.
Net assets compared to the above-mentioned year’s aboriginal division added $163.2 actor to $232.7 million, and adulterated balance per allotment added by 188.2% to $0.98. Excluding the ancient tax benefit, adulterated balance per allotment for the division added to $0.89. Excluding the accepted division ancient tax account and acquisition-related costs from the above-mentioned year quarter, adulterated balance per allotment added 25.4%, to $0.89 from $0.71.
Bob Sasser, Chief Executive Officer, stated, “I am actual admiring with the Company’s achievement in the aboriginal quarter. Through what continues to be a arduous bread-and-er environment, we delivered sales of $5.09 billion, which was the balance of our advice range, and balance that exceeded the aerial end of our advice range. Additionally, while not included in our atone calculation, our Family Dollar articulation delivered its third afterwards division of absolute same-store sales.”
Sasser added, “We accept gotten off to a acknowledged alpha to 2016. We abide to serve a loyal chump abject by accouterment agitating ethics every day; we abide on agenda with our affiliation of Family Dollar; we are on clue to accomplish our declared synergy targets; and we are allotment of what I consider, in this bread-and-er environment, the best adorable area in retail. Attractive ahead, we are committed to growing and convalescent our Dollar Tree and Family Dollar businesses to bigger serve added customers, while carrying abiding amount to our shareholders.”
During the quarter, the Company opened 171 stores, broadcast or relocated 66 stores, and bankrupt 19 stores. Additionally, as allotment of its re-banner initiative, the Company opened three aloft Family Dollar abundance locations as new Dollar Tree stores. The Company additionally adapted 126 Deals food to Dollar Tree food and adapted nine Deals food to Family Dollar stores. Retail affairs aboveboard footage at the end of the division was about 109.6 actor aboveboard feet.
The Company estimates circumscribed net sales for the additional division of 2016 to ambit from $5.03 billion to $5.12 billion, based on a low single-digit access in same-store sales and year-over-year affairs aboveboard footage advance of 2.4%. Adulterated balance per allotment are accepted to ambit from $0.66 to $0.72.
Circumscribed net sales for full-year 2016 are now accepted to ambit amid $20.79 billion and $21.08 billion compared to the Company’s ahead accepted ambit of $20.76 billion to $21.11 billion. This appraisal is based on a low single-digit access in same-store sales, and 4.0% aboveboard footage growth. The Company now anticipates net assets per adulterated allotment for full-year 2016 will ambit amid $3.58 and $3.80. This compares to its antecedent EPS advice ambit of $3.35 to $3.65.
Appointment Alarm Advice
On Thursday, May 26, 2016, the Company will host a appointment alarm to altercate its balance after-effects at 9:00 a.m. Eastern Time. The blast cardinal for the alarm is 888-820-9418. A recorded adaptation of the alarm will be attainable until midnight Wednesday, June 1, 2016 and may be accessed by dialing 888-203-1112. The passcode is 4775937. A webcast of the alarm is attainable through Dollar Tree’s website, and will abide online until Wednesday, June 1, 2016.
Dollar Tree, a Fortune 500 Company, operated 13,997 food beyond 48 states and bristles Canadian ambit as of April 30, 2016. Food accomplish beneath the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. To apprentice added about the Company, appointment www.DollarTree.com.
A WARNING ABOUT FORWARD-LOOKING STATEMENTS: Our columnist absolution contains “forward-looking statements” as that appellation is acclimated in the Private Securities Litigation Reform Act of 1995. Advanced statements abode approaching events, developments or after-effects and about use words such as believe, anticipate, expect, intend, plan, forecast, or estimate. For example, our advanced statements accommodate statements apropos additional division 2016 and full-year 2016 net sales and same-store sales, additional division 2016 and full-year 2016 adulterated balance per share, aboveboard footage growth, the benefits, results, and furnishings of the alliance including synergies, approaching banking and operating after-effects and actor value, the accumulated company’s plans, objectives, expectations (financial or otherwise) and intentions. For a altercation of the risks, uncertainties and assumptions that could affect our approaching events, developments or results, you should anxiously ysis the “Risk Factors,” “Business” and “Management’s Altercation and Analysis of Banking Condition and After-effects of Operations” sections in our Anniversary Address on Form 10-K filed March 28, 2016 and added filings with the Securities and Barter Commission. We are not answerable to absolution about any revisions to any forward- attractive statements independent in this columnist absolution to reflect contest or affairs occurring afterwards the date of this address and you should not apprehend us to do so.
April 30, 2016
May 2, 2015
April 30, 2016
May 2, 2015
Adjustments to accommodate net assets to net banknote provided by operating activities:
Proceeds from b issued pursuant to stock-based advantage affairs
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