Exhibit
99.1
PRESS
RELEASE
DOLLAR
TREE REPORTS SECOND-QUARTER SALES OF $971.2 MILLION AND A 4.4% INCREASE IN
COMPARABLE-STORE SALES
CHESAPEAKE,
Va. – August 9, 2007 – Dollar Tree Stores, Inc. (NASDAQ: DLTR), the nation’s
largest $1.00 discount variety store chain, reported total sales for its fiscal
second quarter of 2007 were $971.2 million, a 9.9% increase compared to $883.6
million in last year’s fiscal second quarter. Comparable-store sales
for the quarter increased 4.4%.
“Our
sales results reflect continuing increases in average ticket and customer
traffic,” President and CEO Bob Sasser said. “The Company delivered a
comparable-store sales increase over 4% for the sixth quarter in a
row. Our merchandise was right for the season as our “Cool Summer
Savings” program generated excitement by featuring key items for picnic,
patriotic holidays, and toys. Store execution continues to improve
and we have made a quick and orderly transition to back to school and fall
product.”
Based
on
the continued strength of comparable-store sales and the related leverage,
the
Company now anticipates diluted earnings per share for the second quarter to
be
$0.32 to $0.33 versus the previously announced guidance range of $0.29 to
$0.32.
The
Company will provide more detailed information about its second quarter 2007
operating results and guidance for the third fiscal quarter during its upcoming
earnings conference call scheduled for Wednesday, August 29, 2007, 9:00 a.m.
EDT. The telephone number for the call is 800-289-0726. A
recorded version of the call will be available until midnight Wednesday,
September 5, and may be accessed by dialing 888-203-1112 and the pass code
is
6326214. International callers may dial 719-457-0820 and the pass
code is 6326214. A webcast of the call is accessible through Dollar
Tree's website, www.DollarTree.com/medialist.cfm, and will remain on-line until
midnight Wednesday, September 5.
Dollar
Tree operated 3,334 stores in 48 states as of August 4, 2007, compared to
3,156 stores in 48 states a year ago. During the second fiscal
quarter of 2007, the Company opened 59 stores, closed 5 stores, and expanded
or
relocated 26 stores. The Company’s retail selling square footage
totaled approximately 27.5 million at August 4, 2007, an 8.3% increase
compared to a year ago.
A
WARNING
ABOUT FORWARD-LOOKING STATEMENTS: Our press release may contain
"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
expectations about second-quarter operating results. 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
4, 2007 and our Quarterly Report on Form 10-Q filed June 14, 2007. In
light of these risks and uncertainties, the future events, developments or
results described by our forward - looking statements in our documents 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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