This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dollar Tree, Inc. Reports Record First Quarter Earnings

Dollar Tree, Inc. (NASDAQ: DLTR), North America’s leading operator of discount variety stores selling everything for $1 or less, reported its results for the quarter ended April 28, 2012 (“first quarter”). Consolidated net sales for the first quarter were $1.72 billion, an 11.5% increase compared to $1.55 billion reported for the quarter ended April 30, 2011 (“first quarter 2011”). Comparable store sales increased 5.6%, on top of a 7.1% increase for the first quarter 2011.

Earnings per diluted share for the first quarter were $1.00, a 22.0% increase compared to earnings per diluted share of $0.82 reported for the quarter ended April 30, 2011.

"I am pleased with the first quarter results as both sales and earnings exceeded the high end of our guidance," said President and CEO Bob Sasser. "The top performing categories for the quarter included Home products; Food, snacks and beverage; Health care products; Party supplies; Household cleaning supplies; and Seasonal merchandise. Inventory turns increased in the first quarter and we entered the second quarter in stock and well prepared, with our shelves full of the right product for our customers.”

Operating margin for the quarter was 10.9%, a 40 basis point improvement from the 10.5% operating margin in the first quarter 2011.

Cash and investments at quarter-end totaled $382.3 million, compared with $510.3 million at the end of the first quarter 2011. During the first quarter, the Company completed its $300 million Accelerated Share Repurchase program and repurchased an additional 49 thousand shares on the open market for $4.5 million, and ended the quarter with $1.2 billion remaining on its share repurchase authorization.

The Company continues to grow. During the first quarter, Dollar Tree opened 110 stores, closed 10 stores, and expanded or relocated 44 stores. Retail selling square footage increased 7.1% compared to a year ago, to 38.6 million square feet.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs