DOLLAR
TREE REPORTS THIRD-QUARTER SALES OF $796.8 MILLION
CHESAPEAKE,
Va. - November 3, 2005 - Dollar
Tree Stores, Inc. (NASDAQ: DLTR), the nation’s largest $1.00 discount variety
store chain, reported that total sales for its fiscal third quarter of 2005
were
$796.8 million, a 10.0% increase compared to $724.0 million in last year’s
fiscal third quarter. These sales results were within the range of the Company’s
most recent guidance of $775 to $800 million. Comparable-store sales for the
quarter declined 1.0%.
“Substantially
all of the comparable-store sales decline was the result of lower traffic,”
President and CEO Bob Sasser said. “We believe that our initiatives to expand
tender types, such as debit card and EBT acceptance, contributed to an increased
average ticket, offsetting much of the impact of lower traffic in the
3rd
quarter.
We have just completed the rollout of additional debit stores, in time for
holiday shopping, which brings us to over 1,400 stores converted this year.
Our
inventory is balanced and our stores are well positioned for the fourth quarter
business.”
The
Company will provide more detailed information about its third quarter 2005
operating results and guidance for the fourth fiscal quarter during its upcoming
earnings conference call scheduled for Tuesday, November 22, 2005, 9:00 a.m.
EST.
The
telephone number for the call is 703-639-1307.
A
recorded version of the call will be available until midnight Thursday, December
1, and may be accessed by dialing 703-925-2533 and
the
access code is 799890.
The
call will be webcast via Dollar Tree's website,
www.DollarTree.com/medialist.cfm, as well as at Vcall’s website, www.Vcall.com,
and will remain on-line until midnight Thursday, December 1.
Dollar
Tree operated 2,899 stores in 48 states as of October 29, 2005, compared to
2,674 stores in 48 states a year ago. During the third fiscal quarter of 2005,
the Company opened 64 stores, closed 21 stores, and expanded or relocated 21
stores. The Company’s retail selling square footage totaled approximately 22.7
million at October 29, 2005, a 15.8% increase compared to a year
ago. Dollar
Tree is a member of the NASDAQ 100 index.
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 2005 initiatives
and sales. 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.
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CONTACT:
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Dollar
Tree Stores, Inc., Chesapeake
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Timothy
J. Reid
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757-321-5284
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www.DollarTree.com
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