dollar tree inc (DT3) Snapshot

Dollar Tree, Inc. announced that Bob Sasser has relinquished the title of President but will retain the role of Chief Executive Officer.

Dollar Tree, Inc. announced the promotion of Gary Philbin, to the position of President and Chief Operating Officer, effective June 10, 2013. He has served as Chief Operating Officer since 2007.

Dollar Tree, Inc. reported unaudited consolidated earnings results for the first quarter ended May 4, 2013. Consolidated net sales for the first quarter were a record $1.87 billion, an 8.3% increase compared to $1.72 billion reported for the quarter ended April 28, 2012. Comparable store sales increased 2.1%, on top of a 5.6% increase for the first quarter 2012. Earnings per diluted share for the first quarter were $0.59, an 18.0% increase compared to earnings per diluted share of $0.50 reported for the first quarter 2012. Operating income was $216.6 million, compared to $188.0 million for the last year. Income before income taxes was $215.6 million, compared to $188.6 million for the last year. Net income was $133.5 million, compared to $116.1 million for the last year. Net cash provided by operating activities was $129.3 million, compared to $134.5 million for the last year. Capital expenditures were $103.2 million, compared to $65.4 million for the last year. The company estimates sales for the second quarter of 2013 to be in the range of $1.81 billion to $1.86 billion, based on low-single digit positive comparable store sales. Diluted earnings per share are estimated to be in the range of $0.52 to $0.57. Tax rate is expected of 38.1% for the second quarter. Full year sales are now estimated to be in the range of $7.81 billion to $7.97 billion. This estimate is based on a range of low-single digit positive comparable store sales. Fiscal year 2013 diluted earnings per share are expected to be $2.61 to $2.77. These estimates assume no impact from potential additional share repurchase activity in 2013. The company is planning consolidated capital expenditures to be in the range of $320 million to $330 million compared with $312.2 million in fiscal year 2012. Depreciation expense is expected to be in the range of $190 million to $200 million for the year. Tax rate is expected of 37.8% for the full year.