PRESS
RELEASE
DOLLAR
TREE REAFFIRMS THIRD QUARTER SALES GUIDANCE AND PROVIDES HURRICANE UPDATE
CHESAPEAKE,
Va. - October 6, 2005 - Dollar Tree Stores, Inc. (NASDAQ: DLTR), the nation’s
largest $1.00 discount variety store chain, reaffirmed third quarter sales
guidance on a pre-recorded message by Kent Kleeberger, Dollar Tree’s Chief
Financial Officer.
In
the
message, Mr. Kleeberger stated that, as of October 6, 2005, third quarter
sales
may be characterized as in line with the Company’s previously announced sales
guidance of $775 to $800 million.
The
message also provided an update regarding the financial impact of Hurricane
Katrina and Hurricane Rita. Mr. Kleeberger noted that while the Company’s third
quarter sales did not appear to be materially impacted by these storms, fourteen
stores sustained heavy damages. These damages include inventory losses,
leasehold and equipment destruction, and significant structural repairs.
The
amount of loss is estimated to be in the range of $4.5 to $5.5 million, or
approximately $0.03 per share, most of which is likely to be incurred in
the
third quarter. Previous earnings guidance for the third quarter and fiscal
year
2005 should be adjusted accordingly.
Interested
parties may dial 757-321-5873 for the Company’s pre-recorded
message.
As
of
October 6, 2005, Dollar Tree operated 2,884 stores in 48 states, compared
to
2,646 stores in 48 states at October 4, 2004.
A
WARNING
ABOUT FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking
statements" as that term is used in the Private Securities Litigation Reform
Act
of 1995. Forward-looking statements address future events, developments
or
results and typically use words such as believe, anticipate, expect, intend,
plan, forecast, outlook, or estimate. For example, our forward-looking
statements include statements regarding our expectations for third-quarter
2005
sales, third-quarter earnings per share, fiscal year earnings per share,
and the
loss related to hurricane damages. For a discussion of the risks, uncertainties
and assumptions that could affect our future events, developments or results,
you should carefully review the “Risk Factors,” "Business," and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations”
sections in our Annual Report on Form 10 - K filed April 14, 2005 and the
“Management’s Discussion and Analysis of Financial Condition and Results of
Operations” section of our Quarterly Report on Form 10-Q filed September 8,
2005. Also, carefully review "Risk Factors" in our most recent prospectuses
filed November 15, 2000 and August 3, 2000. In light of these risks and
uncertainties, the future events, developments or results described by
our
forward - looking statements in this document could turn out to be materially
and adversely different from those we discuss or imply. We are not obligated
to
release publicly any revisions to any forward - looking statements contained
in
this press release to reflect events or circumstances occurring after the
date
of this report and you should not expect us to do so.
CONTACT: Dollar
Tree Stores, Inc., Chesapeake
Kent
Kleeberger
757-321-5000
www.DollarTree.com