PRESS
RELEASE
DOLLAR
TREE REPORTS FOURTH-QUARTER COMPARABLE-STORE SALES INCREASE 1.0%; TOTAL SALES
REACH $1.079 BILLION
CHESAPEAKE,
Va. - February 2, 2006 - Dollar
Tree Stores, Inc. (NASDAQ: DLTR), the nation’s largest $1.00 discount variety
store chain, reported total sales for its fiscal fourth quarter of $1.079
billion, which is above the Company’s most recent guidance, and is a 9.3%
increase compared to $987.5 million in last year’s fiscal fourth quarter.
Comparable-store sales for the quarter increased 1.0%.
“Sales
momentum grew in
the
last half of December, as consumers continued to shop closer to need for the
Holidays,” said Bob Sasser, President and CEO. “In addition, our post-Holiday
business was strong.”
“Our
average ticket continued to increase in the fourth quarter, offsetting a decline
in traffic. The improvement in average ticket was driven by our store
merchandising initiatives, better in-stock position, and our expansion of tender
types, primarily debit card acceptance, which was in more than two thirds of
our
stores in time for the Holiday season.”
Based
on
the sales volume achieved in the fourth quarter, the Company anticipates
earnings per share for the quarter to be in the range of $0.80 to $0.81, which
will equal or exceed the high end of our previous guidance of $0.74 to $0.80
per
share. The Company’s earnings per share were $0.74 in the fourth quarter last
year.
For
fiscal 2005, sales totaled $3.394 billion, an 8.6% year-over-year increase
compared to $3.126 billion last year. Comparable-store sales decreased 0.8%
in
the current year.
The
Company will release
its
fourth-quarter earnings results on
Wednesday, February 22, 2006. The Company will also host
a
conference call at 9:00 a.m. EST that day, to discuss the results in detail,
and
provide insights into its plans for 2006. The telephone number for the call
is
703-639-1375.
A
recorded version of the call will be available until midnight Friday, March
3,
and may be accessed by dialing 703-925-2533.
The access code is 844398.
A
webcast of the call will be available through Dollar Tree's website,
www.DollarTree.com, as well as at Vcall’s website, www.Vcall.com, and will
remain on-line until midnight Friday, March 3.
Dollar
Tree operated 2,914 stores in 48 states as of January 28, 2006, compared to
2,735 stores in 48 states a year ago. During the fourth fiscal quarter of 2005,
the Company opened 29 stores, closed 14 stores, and expanded or relocated 15
stores. For the year, the Company opened 232 stores, closed 53 stores, and
expanded or relocated 93 stores. The Company’s retail selling square footage
totaled approximately 23.0 million at January 28, 2006, a 12.7% increase
compared to a year ago.
The
Company also operates a coast-to-coast logistics network of nine distribution
centers.
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 fourth quarter
earnings per share. 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 December 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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