Slide 1: Supplemental Financial Presentation 4th Quarter 2025
Supplemental Financial Presentation 4th Quarter 2025
Slide 2: Forward Looking Statements
Forward Looking Statements This Supplemental Financial Presentation contains “forward-looking statements,” as that term is used in the Private Securities Litigation Reform Act of 1995, concerning our business and outlook, including our expected sales, comparable store sales, and adjusted diluted ear
Slide 3: Fourth Quarter 2025 – Key Takeaways
Fourth Quarter 2025 – Key Takeaways ✓ Strong Top-Line Growth o Net sales +9% to $5.45B o Comp +5.0% (Ticket +6.3%, Traffic -1.2%) o Discretionary +6.2%, Consumables +3.6% o Multi-price ~16% of sales ✓ Margin Expansion o Gross margin +150 bps to 39.1% o Adjusted operating income +10.7% o Adjusted ope
Slide 4: Dollar Tree Comparable Store Sales Composition
Dollar Tree Comparable Store Sales Composition Traffic, Average Ticket, Consumables, and Discretionary1 FISCAL 2022 FISCAL 2023 Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD TOTAL 11.2% 7.5% 8.6% 8.7% 9.0% 3.4% 7.8% 5.4% 6.3% 5.8% Customer Traffic (3.6%) (5.8%) (5.2%) (1.1%) (3.9%) 5.5% 9.6% 7.0% 7.1% 7.4% Averag
Slide 5: Comparable Store Sales Growth: 5-Year Stack
Comparable Store Sales Growth: 5-Year Stack Dollar Tree 24.0% 21.8% 12.8% 7.0% 5.3% 1 Year 2 Year 3 Year 4 Year 5 Year 2025 2024-2025 2023-2025 2022-2025 2021-2025 5
Slide 6: Consumable vs. Discretionary Mix Shift Over Time
Dollar Tree Consumable vs. Discretionary Mix Shift Over Time Quarterly Results Annual Results YOY Consumables Mix Shift (bps) +180 +170 +220 +210 +220 +210 +150 +60 +20 0 (40) (60) (90) (280) (20) +190 +160 (20) 44.6% 44.6% 45.2% 48.0% 48.4% 48.5% 49.5% 49.9% 50.2% 50.4% 50.6% 50.6% 49.2% 48.3% 45.5
Slide 7: Sales per Square Foot
Sales per Square Foot Dollar Tree $241 $241 $237 $236 $234 $232 $234 $235 $235 $233 $235 $220 $232 $227 $200 $201 $203 $225 $220 $221 $216 $212 $209 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 2022 2023 2024 2025 Dollar Tree Note: Sales per square foot i
Slide 8: Driving Leverage from Multi-Price Christmas Assortment
Driving Leverage from Multi-Price Christmas Assortment (Indexed to 2022 = 100) Sales Trend Merchandise Gross Profit2 Dollar Trend 500 600 421 400 508 500 400 300 300 200 120 200 124 96 100 100 101 1 - 1 - 2022 2023 2024 2025 2022 2023 2024 2025 Total Christmas Non-Multi Price Christmas Multi Price C
Slide 9: Operating Margin (GAAP)
Operating Margin (GAAP) Dollar Tree Segment FY 2025 Q4 Trend Drivers Q1 Q2 Q3 Q4 Prior Year - GAAP 12.5% 8.4% 10.7% 15.2% Mark-on Freight Cost of sales 20 20 40 150 Mix Tariffs Markdowns Store payroll to support pricing initiatives and wage increases Selling, general and administrative (
Slide 10: Operating Margin (NON-GAAP)
Operating Margin (NON-GAAP) Dollar Tree Segment FY 2025 Q4 Trend Drivers Q1 Q2 Q3 Q4 Prior Year - NON-GAAP 12.5% 8.4% 10.7% 15.4% Mark-on Freight Cost of sales 20 20 40 150 Mix Tariffs Markdowns Store payroll to support pricing initiatives and wage increases Selling, general and administ
Slide 11: New Store Openings
New Store Openings Dollar Tree 249 249 146 148 116 127 116 127 107 106 106 Year-to-Date 2024 2025 48 42 32 33 33 525 402 2023 2024 2023 2024 2023 2024 2023 2024 2024 2025 2024 2025 2024 2025 2024 2025 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 11
Slide 12: Outlook – Continuing Operations
Outlook – Continuing Operations First Quarter and Full-Year Fiscal 2026 First Quarter Fiscal Year Sales - Dollar Tree $4.9B - $5.0B $20.5B - $20.7B Comparable Sales - Dollar Tree 3.0% to 4.0% 3.0% to 4.0% Gross margin 1 - Roughly flat Dollar Tree Segment Adjusted SG&A Rate - Modest leverage Corporat
Slide 13: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures From time-to-time, the Company discloses certain financial measures not derived in accordance with GAAP. These non-GAAP financial measures should not be used as a substitute for GAAP financial measures, or considered in isolation, for the purposes of analyzing o
Slide 14: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures In addition, the Company discloses free cash flow, a non-GAAP financial measure that we calculate as net cash provided by operating activities less capital expenditures. The Company believes free cash flow is an important indicator of our liquidity as it measure
Slide 15: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures 13 Weeks Ended 52 Weeks Ended January 31, 2026 February 1, 2025 January 31, 2026 February 1, 2025 Reconciliation of Adjusted Selling, General and Administrative Expenses - Dollar Tree Segment Selling, general and administrative expenses - GAAP $ 1,302.4 $ 1,120.
Slide 16: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures 13 Weeks Ended 52 Weeks Ended January 31, 2026 February 1, 2025 January 31, 2026 February 1, 2025 Reconciliation of Adjusted Diluted Earnings Per Share - Continuing Operations Diluted earnings per share - continuing operations (GAAP) $ 2.56 $ 1.86 $ 5.94 $ 4.83
Slide 17: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures Reconciliation of Net Cash Provided by (Used in) Operating Activities of Continuing Operations to Free Cash Flow from Continuing Operations 13 Weeks Ended 52 Weeks Ended January 31, 2026 February 1, 2025 January 31, 2026 February 1, 2025 Net cash provided by ope