Dollar
Tree Stores, Inc. Board Authorizes $500 Million Share Repurchase
Program
CHESAPEAKE,
Va. – October 4, 2007 - Dollar Tree Stores, Inc. (NASDAQ:
DLTR), the nation's leading operator of single-price point dollar stores, today
announced that its Board of Directors has authorized the repurchase of an
additional $500 million of its common stock. Stock repurchases may be made,
from
time-to-time, either in the open market or through privately negotiated
transactions, at management's discretion, depending on market conditions and
other factors, in accordance with Securities and Exchange Commission
requirements. This authorization is in addition to the November 2006 repurchase
authorization, of which the Company has approximately $99 million remaining
available to expend.
“The
Company has demonstrated the continual ability to self-fund store growth, as
well as other initiatives, while generating substantial free cash,” said
President and CEO Bob Sasser. “Accordingly, the Board of Directors
has approved the increased level of stock repurchase activity, as recommended
by
management, as part of our continued commitment to reward our long-term
shareholders.”
Dollar
Tree Stores operates 3,334 stores in 48 states as of August 4,
2007.
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, or estimate. For example, our forward-looking
statements include statements regarding our intentions to repurchase stock,
our
future cash flow and our ability to fund future growth. 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 September 12, 2007. 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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