Last $69.57 USD
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As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

dollar tree inc (DLTR) Key Developments

Dollar Tree, Inc. Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended November 1, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014; Updates Earnings Guidance for the Full Year of 2014

Dollar Tree, Inc. announced consolidated unaudited earnings results for the third quarter and nine months ended November 1, 2014. For the quarter, the company reported net sales of $2,095.2 million against $1,884.7 million a year ago. Operating income was $219.7 million against $204.3 million a year ago. Income before income taxes was $209.3 million against $198.8 million a year ago. Net income was $133 million against $142.4 million a year ago. Earnings per diluted share were $0.64 against $0.69 a year ago. Excluding acquisition-related costs, net income increased approximately $17.0 million to $142.4 million and diluted earnings per share increased 19.0% to $0.69. Capital expenditures were $94.2 million against $84.5 million in the third quarter last year. Adjusted operating income increased $29.7 million compared to the third quarter last year. For the nine months, the company reported net sales of $6,126.6 million against $5,605.4 million a year ago. Operating income was $656.6 million against $622.1 million a year ago. Income before income taxes was $629.6 million against $615.2 million a year ago. Net income was $392.7 million against $383.6 million a year ago. Earnings per diluted share were $1.90 against $1.73 a year ago. Net cash provided by operating activities was $388.5 million against $366.7 million a year ago. Capital expenditures was $254.4 million against $284.1 million a year ago. Excluding acquisition-related costs, net income increased $23.1 million to $406.7 million and diluted earnings per share increased 13.3% to $1.96. The company estimates consolidated net sales for the fourth quarter of 2014 to be in the range of $2.39 billion to $2.46 billion, based on a range of low-single digit positive same-store sales. Diluted earnings per share are estimated to be in the range of $1.07 to $1.14, excluding acquisition-related costs. Tax rate expected to be of 38.1%. Consolidated net sales for full-year 2014 are now expected to range between $8.52 billion and $8.58 billion compared to the company's previously expected range of $8.44 billion to $8.55 billion. The company now anticipates net income per diluted share for full-year 2014, which includes $0.07 of acquisition-related costs, will range between $2.97 and $3.04. This compares to its previous guidance range of $2.94 to $3.06, which included $0.02 of acquisition-related costs from the second quarter. The company continues to expect consolidated capital expenditures to be in the range of $360 million to $370 million. The company continues to expect depreciation expense to be in the range of $200 million to $210 million for the year. Tax rate expected to be of 37.8%.

Dollar Tree To Divest 500 Stores

Dollar Tree, Inc. (NasdaqGS:DLTR) (Dollar Tree) expects that it will have to divest less than 500 stores, stated Bob Sasser, Chief Executive Officer of Dollar Tree. Divestitures would not materially affect business of Dollar Tree. Dollar Tree shares rose by 7% to $67.08.

Dollar Tree, Inc. and Family Dollar Stores, Inc. Receives Request for Additional Information from the Federal Trade Commission

Dollar Tree, Inc. and Family Dollar Stores, Inc. announced that, as expected, the two companies have each received a request for additional information (second request) from the Federal Trade Commission (FTC) in connection with Dollar Tree's pending acquisition of Family Dollar. The second request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended (HSR Act). The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Dollar Tree and Family Dollar have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. Dollar Tree and Family Dollar intend to cooperate fully with the FTC, are confident that regulatory approval will be obtained, and expect to close the transaction as early as the end of November 2014. J.P. Morgan Securities LLC is acting as exclusive financial advisor to the board of directors of Dollar Tree, and J.P. Morgan Chase Bank, N.A., Wells Fargo Bank, National Association, Bank of America, N.A., Royal Bank of Canada and U.S. Bank, National Association, and certain of their affiliates have committed to provide financing for the transaction. Wachtell, Lipton, Rosen & Katz and Williams Mullen are acting as legal counsel to Dollar Tree in connection with the transaction. Morgan Stanley & Co. LLC is acting as exclusive financial advisor to the board of directors of Family Dollar in connection with the transaction. Cleary Gottlieb Steen & Hamilton LLP is serving as legal counsel to Family Dollar.

Dollar Tree To Divest Stores

Dollar Tree, Inc. (NasdaqGS:DLTR) will divest as many stores as needed to get antitrust clearance for its deal to buy Family Dollar, as Family Dollar has rejected Dollar General's latest acquisition offer.

Dollar Tree, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 2, 2014; Revises Earnings Guidance for the Full Year 2014; Provides Earnings Guidance for the Third Quarter of 2014

Dollar Tree, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended August 2, 2014. Consolidated net sales increased 9.5% to $2.03 billion from $1.85 billion in the prior year's second quarter. Consolidated comparable store sales increased 4.5% on a constant currency basis. Adjusted for the impact of Canadian currency fluctuations, the comparable store sales increase was 4.4%. Net income, compared to the prior year's second quarter, including acquisition-related costs, decreased approximately $3.2 million to $121.5 million, and diluted earnings per share increased by 5.4% to $0.59 against $124.7 million or $0.56 per diluted share a year ago. Excluding acquisition-related costs, net income increased approximately $1.4 million to $126.1 million and diluted earnings per share increased 8.9% to $0.61. Operating income was $205.0 million against $201.3 million a year ago. Adjusted operating income was $212.5 million. Income before income taxes was $196.6 million against $200.8 million a year ago. Adjusted income before income taxes was $204.1 million. Capital expenditures were $88.3 million in the second quarter of 2014 versus $96.4 million in the second quarter last year. Consolidated net sales increased 8.4% to $4.03 billion from $3.72 billion in the first six months of 2013. Consolidated comparable store sales increased 3.2% on a constant currency basis. Adjusted for the impact of Canadian currency fluctuations, the comparable-store sales increase was 3.1%. Net income, compared to the prior year's first six months, including acquisition-related costs, increased $1.5 million to $259.7 million, and diluted earnings per share increased by 8.7% to $1.25 against $258.2 million or $1.15 per diluted share a year ago. Excluding acquisition-related costs, net income increased $6.1 million to $264.3 million and diluted earnings per share increased 11.3% to $1.28. Operating income was $436.9 million against $417.8 million a year ago. Adjusted operating income was $444.4 million. Income before income taxes was $420.3 million against $416.3 million a year ago. Adjusted income before income taxes was $427.8 million. Net cash provided by operating activities was $365.3 million against $300.3 million a year ago. Capital expenditures were $160.2 million against $199.6 million a year ago. The company estimates sales for the third quarter of 2014 to range from $2.02 billion to $2.07 billion, based on low- to mid-single digit positive comparable store sales. Diluted earnings per share are estimated to range from $0.61 to $0.66, excluding acquisition-related costs. Gross profit margin will continue to be challenged by year-over-year freight increases as well as commitment to providing greater value to consumers in this challenging macro environment. Full-year 2014 sales are now estimated to range from $8.44 billion to $8.55 billion. This estimate is based on a range of low- to low-mid-single digit positive comparable store sales. Diluted earnings per share, which includes $0.02 per share of second quarter acquisition-related costs, are expected to range from $2.94 to $3.06, excluding third and fourth quarter acquisition-related costs. For the full year 2014, the company is planning consolidated capital expenditures to be in the range of $360 million to $370 million. Depreciation expense to be in the range of $200 million to $210 million for the year.

 

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Company Last Change
Casey's General Stores Inc $89.07 USD -0.08
Dollar General Corp $69.40 USD -0.46
Family Dollar Stores Inc $79.12 USD -0.02
Office Depot Inc $8.84 USD +0.09
Whole Foods Market Inc $48.40 USD -0.275
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TEV/Sales 1.6x
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