Press release
Dollar Tree, Inc. Reports Results for the Fourth Quarter Fiscal 2023
Same-Store Net Sales: Dollar Tree +6.3%; Family Dollar -1.2%; Enterprise +3.0% Comparable Transaction Count: Dollar Tree +7.1%; Family Dollar +0.7% Diluted
About this update from Dollar Tree, Inc.
[{"type":"text","content":"\n\nSame-Store Net Sales: Dollar Tree +6.3%; Family Dollar -1.2%; Enterprise +3.0%\n\n\n\nComparable Transaction Count: Dollar Tree +7.1%; Family Dollar +0.7%\n\n\n\nDiluted Loss per Share of $7.85\n\n\n\nResults Include a $594.4 Million Charge for Portfolio Optimization Review, a $1.07 Billion Goodwill Impairment Charge, and a $950 Million Trade Name Intangible Asset Impairment Charge.\n\n\n\nAdjusted Earnings per Share (EPS) of $2.55, Including $0.17 of Costs Primarily Related to General Liability Claims.\n\n\n\nQuarter and Annual Results Reflect Extra Week as Fiscal 2023 was a 53-Week Year.\n\n\n\nPortfolio Optimization Review Identifies Approximately 600 Family Dollar Stores for Closure in First Half of Fiscal 2024 and Approximately 370 Additional Stores as Their Leases Expire.\n\n\n\nFiscal 2024 Net Sales Outlook Range of $31.0 Billion to $32.0 Billion\n\n\n\nFiscal 2024 Diluted EPS Outlook Range of $6.70 to $7.30\n\n\n\n CHESAPEAKE, Va.--(BUSINESS WIRE)--\nDollar Tree, Inc. (NASDAQ: DLTR) today reported financial results for its fourth quarter ended February 3, 2024.\n\n\n“We finished the year strong, with fourth quarter results reflecting positive traffic trends, market share gains, and adjusted margin improvement across both segments,” said Rick Dreiling, Chairman and Chief Executive Officer. “While we are still in the early stages of our transformation journey, I am proud of what our team accomplished in 2023 and see a long runway of growth ahead of us. As we look forward in 2024, we are accelerating our multi-price rollout at Dollar Tree and taking decisive action to improve profitability and unlock value at Family Dollar.”\n\n\nChief Financial Officer Jeff Davis added, “As an organization, we continue to execute at a high level. Our core operating performance was strong in the fourth quarter, despite some unanticipated developments related to general liability claims.”\n\n\nAdditional Business Highlights\n\n\n\nOpened 219 new stores in the fourth quarter, bringing full-year new store openings to 641\n\n\n\n$3 and $5 center-store merchandise available at approximately 5,000 Dollar Tree stores\n\n\n\n$3, $4, and $5 frozen and refrigerated items available at more than 6,500 Dollar Tree stores\n\n\n\nNet cash provided by operating activities increased $1.07 billion in FY 2023\n\n\n\nIncreased free cash flow by $217.2 mill...