Dollar Tree, Inc. Reports Results for the Fourth Quarter Fiscal 2024
Dollar Tree (NASDAQ: DLTR) has announced the sale of Family Dollar to Brigade and Macellum for $1.007 billion, with net proceeds estimated at $804 million. The transaction is expected to close in approximately 90 days.
In Q4 2024, Dollar Tree reported:
- Net sales increased 0.7% to $5.0 billion
- Same-store sales grew 2.0% (traffic +0.7%, ticket +1.3%)
- Diluted EPS from continuing operations of $1.86
- Adjusted diluted EPS of $2.29
For fiscal 2025, the company projects:
- Net sales of $18.5-19.1 billion
- Comparable store net sales growth of 3-5%
- Adjusted diluted EPS from continuing operations of $5.00-5.50
The company operated 16,500 stores across 48 states and five Canadian provinces as of February 1, 2025, and completed approximately 2,900 Dollar Tree 3.0 multi-price format stores.
Dollar Tree (NASDAQ: DLTR) ha annunciato la vendita di Family Dollar a Brigade e Macellum per 1,007 miliardi di dollari, con proventi netti stimati a 804 milioni di dollari. Si prevede che la transazione si chiuda in circa 90 giorni.
Nel quarto trimestre del 2024, Dollar Tree ha riportato:
- Le vendite nette sono aumentate dello 0,7% a 5,0 miliardi di dollari
- Le vendite nei negozi comparabili sono cresciute del 2,0% (traffico +0,7%, scontrino +1,3%)
- EPS diluito dalle operazioni continuative di 1,86 dollari
- EPS diluito rettificato di 2,29 dollari
Per l'anno fiscale 2025, l'azienda prevede:
- Vendite nette di 18,5-19,1 miliardi di dollari
- Crescita delle vendite nette nei negozi comparabili del 3-5%
- EPS diluito rettificato dalle operazioni continuative di 5,00-5,50 dollari
L'azienda gestiva 16.500 negozi in 48 stati e cinque province canadesi al 1° febbraio 2025 e ha completato circa 2.900 negozi Dollar Tree 3.0 a formato multi-prezzo.
Dollar Tree (NASDAQ: DLTR) ha anunciado la venta de Family Dollar a Brigade y Macellum por 1.007 millones de dólares, con ingresos netos estimados en 804 millones de dólares. Se espera que la transacción se cierre en aproximadamente 90 días.
En el cuarto trimestre de 2024, Dollar Tree reportó:
- Las ventas netas aumentaron un 0,7% a 5,0 mil millones de dólares
- Las ventas en tiendas comparables crecieron un 2,0% (tráfico +0,7%, ticket +1,3%)
- EPS diluido de operaciones continuas de 1,86 dólares
- EPS diluido ajustado de 2,29 dólares
Para el año fiscal 2025, la empresa proyecta:
- Ventas netas de 18,5-19,1 mil millones de dólares
- Crecimiento de ventas netas en tiendas comparables del 3-5%
- EPS diluido ajustado de operaciones continuas de 5,00-5,50 dólares
La empresa operaba 16.500 tiendas en 48 estados y cinco provincias canadienses al 1 de febrero de 2025, y completó aproximadamente 2.900 tiendas Dollar Tree 3.0 en formato de múltiples precios.
Dollar Tree (NASDAQ: DLTR)는 Family Dollar를 Brigade와 Macellum에 10억 700만 달러에 판매한다고 발표했으며, 순수익은 8억 400만 달러로 추정됩니다. 거래는 약 90일 이내에 마무리될 것으로 예상됩니다.
2024년 4분기 동안 Dollar Tree는 다음과 같은 결과를 보고했습니다:
- 순매출이 0.7% 증가하여 50억 달러에 도달
- 동일 매장 매출이 2.0% 성장 (방문자 수 +0.7%, 평균 구매 금액 +1.3%)
- 지속 운영에서의 희석 주당순이익(EPS)은 1.86달러
- 조정된 희석 EPS는 2.29달러
2025 회계연도에 대해 회사는 다음과 같이 예상하고 있습니다:
- 순매출 185억-191억 달러
- 동일 매장 순매출 성장률 3-5%
- 지속 운영에서의 조정된 희석 EPS는 5.00-5.50달러
회사는 2025년 2월 1일 기준으로 48개 주와 5개 캐나다 주에 걸쳐 16,500개의 매장을 운영하고 있으며, 약 2,900개의 Dollar Tree 3.0 다중 가격 형식 매장을 완료했습니다.
Dollar Tree (NASDAQ: DLTR) a annoncé la vente de Family Dollar à Brigade et Macellum pour 1,007 milliard de dollars, avec des produits nets estimés à 804 millions de dollars. La transaction devrait se conclure dans environ 90 jours.
Au quatrième trimestre 2024, Dollar Tree a rapporté :
- Les ventes nettes ont augmenté de 0,7 % pour atteindre 5,0 milliards de dollars
- Les ventes dans les magasins comparables ont augmenté de 2,0 % (trafic +0,7 %, ticket +1,3 %)
- EPS dilué des opérations continues de 1,86 dollar
- EPS dilué ajusté de 2,29 dollars
Pour l'exercice 2025, l'entreprise prévoit :
- Des ventes nettes de 18,5 à 19,1 milliards de dollars
- Une croissance des ventes nettes dans les magasins comparables de 3 à 5 %
- Un EPS dilué ajusté des opérations continues de 5,00 à 5,50 dollars
Au 1er février 2025, l'entreprise exploitait 16 500 magasins dans 48 États et cinq provinces canadiennes et avait complété environ 2 900 magasins Dollar Tree 3.0 au format multi-prix.
Dollar Tree (NASDAQ: DLTR) hat den Verkauf von Family Dollar an Brigade und Macellum für 1,007 Milliarden Dollar angekündigt, mit einem geschätzten Nettoerlös von 804 Millionen Dollar. Die Transaktion soll in etwa 90 Tagen abgeschlossen werden.
Im vierten Quartal 2024 berichtete Dollar Tree:
- Die Nettoumsätze stiegen um 0,7% auf 5,0 Milliarden Dollar
- Die vergleichbaren Verkaufszahlen wuchsen um 2,0% (Verkehr +0,7%, Ticket +1,3%)
- Der verwässerte EPS aus fortgeführten Betrieben betrug 1,86 Dollar
- Der angepasste verwässerte EPS betrug 2,29 Dollar
Für das Geschäftsjahr 2025 prognostiziert das Unternehmen:
- Nettoumsätze von 18,5-19,1 Milliarden Dollar
- Wachstum der Nettoumsätze in vergleichbaren Geschäften von 3-5%
- Angemessener verwässerter EPS aus fortgeführten Betrieben von 5,00-5,50 Dollar
Das Unternehmen betrieb zum 1. Februar 2025 insgesamt 16.500 Geschäfte in 48 Bundesstaaten und fünf kanadischen Provinzen und hat rund 2.900 Dollar Tree 3.0 Geschäfte im Mehrpreismodell eröffnet.
- Sale of Family Dollar for $1.007 billion with $804 million in net proceeds
- Same-store sales growth of 2.0% in Q4 2024
- Strong expansion with 525 new Dollar Tree stores opened in fiscal 2024
- Generated $2.2 billion in operating cash flow from continuing operations
- Gross margin contracted 130 basis points to 37.6% in Q4
- Operating income decreased 26.5% to $533.6 million in Q4
- Higher expenses across depreciation, utilities, and professional fees
- Increased shrink and markdown costs impacting profitability
Insights
Dollar Tree's decision to sell Family Dollar for $1.007 billion marks a strategic pivot that will likely benefit shareholders despite recognizing a significant loss on the original $8.5 billion acquisition from 2015. This divestiture allows management to focus exclusively on the better-performing Dollar Tree banner, which showed +2.0% same-store sales growth driven by both traffic (+0.7%) and ticket size (+1.3%) increases in Q4.
The transaction structure provides approximately $804 million in net proceeds plus an estimated $350 million in tax benefits, providing substantial financial flexibility. With $1.3 billion in cash and no revolver borrowings as of quarter-end, the company is well-positioned to continue its $952 million remaining share repurchase authorization.
While Q4 showed margin pressure with gross margin contracting 130 basis points to 37.6% and operating margin declining 390 basis points to 10.7%, the company's forward guidance suggests confidence in the core business. The outlook for 3-5% comparable store growth in fiscal 2025 and the continued expansion of Dollar Tree 3.0 multi-price format stores (now at 2,900 locations) indicates a healthy growth trajectory.
The Transition Services Agreement following the sale will create a temporary $0.30-$0.35 EPS headwind in fiscal 2025, but this short-term pain is outweighed by the long-term strategic benefits of eliminating a chronically underperforming business unit. By redirecting capital and management attention exclusively to Dollar Tree, the company has created a clearer path to sustainable growth and improved returns on invested capital.
- Review of Strategic Alternatives Concludes with Agreement to Sell Family Dollar
- Family Dollar Fourth Quarter and Full-Year Fiscal 2024 Results Are Reported as Discontinued Operations
-
Dollar Tree Same-Store Net Sales +
2.0% on +0.7% Traffic and +1.3% Ticket -
Diluted Loss per Share of
and Diluted Earnings per Share (EPS) from Continuing Operations of$17.17 $1.86 -
Adjusted Diluted EPS of
, Including$2.29 from Continuing Operations and$2.11 from Discontinued Operations$0.18 -
Full-Year Fiscal 2025 Outlook Ranges of
to$18.5 for Net Sales and$19.1 Billion to$5.00 for Adjusted EPS from Continuing Operations, Including$5.50 to$0.30 Negative Impact from Having Only Half-Year Benefit of Family Dollar TSA.$0.35 -
First Quarter Fiscal 2025 Outlook Ranges of
to$4.5 for Net Sales and$4.6 Billion to$1.10 for Adjusted EPS from Continuing Operations, Including Full Shared-Service Expense Burden and No Benefit from Family Dollar TSA$1.25
“In the fourth quarter, our team was focused on successfully closing out the year, bringing the strategic review to a favorable conclusion, and setting Dollar Tree on a path to realize its full potential to create long-term value for our associates, customers, and shareholders,” said Mike Creedon, Chief Executive Officer. “We finished 2024 on a high note with strong execution at Dollar Tree as growing customer acceptance of our expanded assortment drove sales momentum. With the sale of Family Dollar set to close later this year, we will be able to fully dedicate ourselves to Dollar Tree’s long-term growth, profitability, and returns on capital.”
Sale of Family Dollar
After a thorough review of strategic alternatives, on March 25, 2025, the Company entered into a definitive agreement to sell the Family Dollar business to Brigade and Macellum for a purchase consideration of
In the fourth quarter of 2024, the Company determined that the assets of the Family Dollar business met the criteria for classification as held for sale. As such, the results of Family Dollar are presented in Dollar Tree Inc.’s financial results as discontinued operations in the Consolidated Financial Statements for all periods presented and prior periods have been adjusted to conform to the current presentation.
Unless otherwise noted, all amounts and disclosures included in this press release reflect only continuing operations. For additional information, please refer to Note 15 in our Annual Report on Form 10-K to be filed today, March 26, 2025.
Additional Business Highlights
- Opened 33 new Dollar Tree stores, bringing full-year openings to 525
-
Finished fiscal 2024 with approximately
2,900 Dollar Tree 3.0 multi-price format stores, including 2,600 conversions and 300 new stores. -
For the full year, generated
of net cash provided by operating activities of continuing operations and$2.2 billion of free cash flow from continuing operations$893 million
Fourth Quarter 2024 Key Operating Results (unaudited)
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(Compared to same period fiscal 2023) |
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Q4
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Change1 |
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Net Sales |
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Same-Store Net Sales Growth – Dollar Tree |
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Operating Income |
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- |
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Diluted EPS |
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- |
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Adjusted Operating Income2 |
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- |
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Adjusted Diluted EPS2 |
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- |
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1 2 |
Note that Q4 Fiscal 2023 included a 53rd week which affects year-over-year growth rates Adjustments are impairments, strategic review costs, stock option acceleration costs, and other items. See “Reconciliation of Non-GAAP Financial Measures” below for detailed schedules of these charges. |
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Fourth Quarter Results
Results for the fourth quarter, ended February 1, 2025, are reported on a continuing operations basis and reflect the Family Dollar segment as discontinued operations. Continuing operations reflect the results of the Dollar Tree segment and corporate, support, and other.
Also, unless otherwise noted, all comparisons are to the prior year’s fourth quarter, ended February 3, 2024, which also have been adjusted to reflect the Family Dollar segment as discontinued operations. Finally, the prior year’s fourth quarter ended February 3, 2024, included an extra week which affects year-over-year comparisons.
Net sales increased
Gross profit declined
Selling, general and administrative expenses increased 260 basis points to
On an adjusted basis, which does not include software write-off, stock compensation, and professional fees, selling, general and administrative expenses increased 100 basis points to
Operating income decreased
The Company’s effective tax rate was
Income from continuing operations was
Year-to-Date Results
Results for the 52 weeks ended February 1, 2025, are reported on a continuing operations basis and reflect the Family Dollar segment as discontinued operations. Continuing operations reflect the results of our Dollar Tree segment and corporate, support, and other.
Also, unless otherwise noted, all comparisons are to the prior 53 weeks ended February 3, 2024, which also reflect the Family Dollar segment as discontinued operations.
Net sales increased
Gross profit increased
Selling, general and administrative expenses were
Operating income decreased
The Company’s effective tax rate was
Income from continuing operations was
The Company repurchased 3.3 million shares for
On March 21, 2025, the Company entered into a new
Fiscal 2025 Outlook
The Company is offering its full-year fiscal 2025 outlook on a continuing operations basis, reflecting the operations of our Dollar Tree segment, which includes corporate, support, and other. A reclassification of 2024 results into continuing, discontinued, and consolidated operations is provided in the supplemental schedules below.
The Company expects its full-year fiscal 2025 net sales from continuing operations to be in the range of
Our outlook for adjusted diluted EPS from continuing operations includes SG&A costs associated with shared services that are provided to the Family Dollar business. These costs will be incurred for the entirety of fiscal year 2025. Under a Transition Services Agreement (TSA) that would begin with the anticipated closing of the sale in June 2025, the Family Dollar buyer will reimburse the Company for the cost of providing these services. Because Dollar Tree will bear the full year of the costs to support Family Dollar but only expects to receive offsetting reimbursement income in the second half of the year, the Company’s earnings full-year earnings will be negatively impacted by approximately
Adjusted diluted EPS from continuing operations is expected to range from
First Quarter 2025 Outlook
The Company expects net sales from continuing operations for the first quarter will range from
Adjusted diluted EPS for the first quarter 2025 is estimated to be in the range of
While share repurchases are not included in the outlook, as of February 1, 2025 the Company has approximately
Conference Call Information
On Wednesday, March 26, 2025, the Company will host a conference call to discuss its earnings results at 8:00 a.m. Eastern Time. The telephone number for the call is (877) 407-3943 or (201) 689-8855. A recorded version of the call will be available for seven days after the call and may be accessed by dialing (877) 660-6853 or (201) 612-7415. The access code is 13751721. A webcast of the call is also accessible through the Investor Relations portion of the Company’s website.
Supplemental financial information for the fourth quarter is available on the Investor Relations portion of the Company’s website, at https://corporate.dollartree.com/investors.
Dollar Tree, a Fortune 200 Company, operated 16,500 stores across 48 states and five Canadian provinces as of February 1, 2025. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. To learn more about the Company, visit www.DollarTree.com.
Use of Non-GAAP Financial Measures
The Company reports its financial results in accordance with accounting principles generally accepted in
Reconciliations of the non-GAAP financial measures to the corresponding amounts prepared in accordance with GAAP appears in the tables under the heading “Reconciliation of Non-GAAP Financial Measures” below. These tables provide additional information regarding the adjusted measures.
A WARNING ABOUT FORWARD-LOOKING STATEMENTS: Our press release contains "forward-looking statements" as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they address future events, developments or results and do not relate strictly to historical facts. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include, without limitation, statements preceded by, followed by or including words such as: “believe”, “anticipate”, “expect”, “intend”, “plan”, “view”, “target” or “estimate”, “may”, “will”, “should”, “predict”, “possible”, “potential”, “continue”, “strategy”, and similar expressions. For example, our forward-looking statements include statements relating to our business and financial outlook for fiscal 2025, including without limitation our expectations regarding net sales, comparable store sales and adjusted diluted earnings per share for the first fiscal quarter and full fiscal year 2025, and various factors that are expected to impact our quarterly and annual results of operations for fiscal 2025; our plans and expectations regarding our business, including the impact of various initiatives, investments, and reviews on the company’s performance and prospects for long-term growth; and our other plans, objectives, expectations (financial and otherwise) and intentions. Our forward-looking statements also include statements regarding our pending sale of Family Dollar, which is subject to closing conditions and a number of adjustments to the purchase price, and which may not be completed in a timely fashion or at all, disrupt our business operations, be more difficult or costly than expected or fail to achieve the anticipated benefits. These statements are subject to risks and uncertainties. The following risks, among others, could have a material adverse impact on our sales, costs, profitability, financial performance or implementation of strategic initiatives: cost pressures from increases in merchandise, shipping, freight and fuel costs, wage and benefit and other operating costs; the imposition of duties, tariffs or other measures that create barriers or restrictions on trade, including anti-dumping or countervailing duty orders or other trade-related sanctions, and any retaliatory counter measures; risks associated with our merchandise supply chain and distribution network; increased competition from other retailers including online retailers; our product assortment and pricing; quality or safety concerns about our merchandise; product recalls; inflation or other changes in economic conditions or consumer spending habits; our ability to increase sales in existing stores and to expand our square footage profitably; seasonality; our ability to implement and anticipate the impact of important strategic initiatives; risks related to theft, asset loss and the security of our facilities; our ability to attract and retain qualified associates and key personnel; our reliance on third parties; our ability to access credit or capital markets, a downgrade of our credit ratings and/or increases in interest rates; any material failure, inadequacy, interruption or security failure of our computer and technology systems, including because of a cyberattack; operational disruptions or data theft due to potential unauthorized access to our systems; impairments of goodwill and other long-lived assets; the impact or legal proceedings, regulatory enforcement matters and our ability to comply with applicable laws; environmental, social and governance matters; changes to accounting standards, estimates or assumptions or in applicable laws; and geopolitical tensions, international disputes or conflicts, military confrontation, economic sanctions, piracy, acts of terrorism or natural or man-made disasters. For additional 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 March 20, 2024, our Form 10-Q for the most recently ended fiscal quarter and other filings we make from time to time with the Securities and Exchange Commission. 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.
DOLLAR TREE, INC. | ||||||||||||||||
Condensed Consolidated Statements of Operations | ||||||||||||||||
(In millions, except per share data) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
13 Weeks Ended |
14 Weeks Ended |
52 Weeks Ended |
53 Weeks Ended |
|||||||||||||
February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | |||||||||||||
Revenues | ||||||||||||||||
Net sales | $ |
4,996.7 |
|
$ |
4,961.4 |
|
$ |
17,565.8 |
|
$ |
16,770.3 |
|
||||
Other revenue |
|
3.1 |
|
|
2.9 |
|
|
12.7 |
|
|
10.8 |
|
||||
Total revenue |
|
4,999.8 |
|
|
4,964.3 |
|
|
17,578.5 |
|
|
16,781.1 |
|
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Expenses | ||||||||||||||||
Cost of sales |
|
3,116.9 |
|
|
3,028.2 |
|
|
11,284.1 |
|
|
10,761.4 |
|
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Selling, general and administrative expenses |
|
1,349.3 |
|
|
1,210.5 |
|
|
4,832.4 |
|
|
4,245.2 |
|
||||
Operating income |
|
533.6 |
|
|
725.6 |
|
|
1,462.0 |
|
|
1,774.5 |
|
||||
Interest expense, net |
|
22.6 |
|
|
27.6 |
|
|
107.5 |
|
|
112.5 |
|
||||
Other (income) expense, net |
|
(29.3 |
) |
|
(0.1 |
) |
|
(29.1 |
) |
|
0.1 |
|
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Income from continuing operations before income taxes |
|
540.3 |
|
|
698.1 |
|
|
1,383.6 |
|
|
1,661.9 |
|
||||
Provision for income taxes |
|
140.1 |
|
|
165.7 |
|
|
341.1 |
|
|
396.1 |
|
||||
Income from continuing operations |
|
400.2 |
|
|
532.4 |
|
|
1,042.5 |
|
|
1,265.8 |
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Income (loss) from discontinued operations, net of tax |
|
(4,096.1 |
) |
|
(2,242.2 |
) |
|
(4,072.6 |
) |
|
(2,264.2 |
) |
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Net income (loss) | $ |
(3,695.9 |
) |
$ |
(1,709.8 |
) |
$ |
(3,030.1 |
) |
$ |
(998.4 |
) |
||||
Net earnings (loss) per share: | ||||||||||||||||
Basic from continuing operations | $ |
1.86 |
|
$ |
2.44 |
|
$ |
4.83 |
|
$ |
5.77 |
|
||||
Basic from discontinued operations |
|
(19.04 |
) |
|
(10.29 |
) |
|
(18.88 |
) |
|
(10.32 |
) |
||||
Basic per share of common stock | $ |
(17.18 |
) |
$ |
(7.85 |
) |
$ |
(14.05 |
) |
$ |
(4.55 |
) |
||||
Basic weighted average number of shares |
|
215.1 |
|
|
217.9 |
|
|
215.7 |
|
|
219.5 |
|
||||
Diluted from continuing operations | $ |
1.86 |
|
$ |
2.44 |
|
$ |
4.83 |
|
$ |
5.76 |
|
||||
Diluted from discontinued operations |
|
(19.03 |
) |
|
(10.27 |
) |
|
(18.86 |
) |
|
(10.30 |
) |
||||
Diluted per share of common stock | $ |
(17.17 |
) |
$ |
(7.83 |
) |
$ |
(14.03 |
) |
$ |
(4.54 |
) |
||||
Diluted weighted average number of shares |
|
215.3 |
|
|
218.3 |
|
|
215.9 |
|
|
219.9 |
|
||||
Selling, general and administrative expense rate |
|
27.0 |
% |
|
24.4 |
% |
|
27.5 |
% |
|
25.3 |
% |
||||
Operating income margin |
|
10.7 |
% |
|
14.6 |
% |
|
8.3 |
% |
|
10.6 |
% |
||||
Income from continuing operations before income taxes as percentage of total revenue |
|
10.8 |
% |
|
14.1 |
% |
|
7.9 |
% |
|
9.9 |
% |
||||
Effective tax rate |
|
25.9 |
% |
|
23.7 |
% |
|
24.7 |
% |
|
23.8 |
% |
||||
Income from continuing operations as percentage of total revenue |
|
8.0 |
% |
|
10.7 |
% |
|
5.9 |
% |
|
7.5 |
% |
The selling, general and administrative expense rate and operating income margin are calculated by dividing the applicable amount by total revenue. |
Amounts in tables above may not recalculate due to rounding |
DOLLAR TREE, INC. | ||||||
Condensed Consolidated Balance Sheets | ||||||
(In millions) | ||||||
(Unaudited) | ||||||
February 1, 2025 | February 3, 2024 | |||||
ASSETS | ||||||
Current Assets: | ||||||
Cash and cash equivalents | $ |
1,256.5 |
$ |
425.2 |
||
Merchandise inventories |
|
2,672.0 |
|
2,495.8 |
||
Other current assets |
|
169.8 |
|
141.3 |
||
Current assets of discontinued operations |
|
5,008.9 |
|
3,070.4 |
||
Total current assets |
|
9,107.2 |
|
6,132.7 |
||
Restricted cash |
|
75.7 |
|
72.3 |
||
Property, plant and equipment, net |
|
4,499.3 |
|
3,822.1 |
||
Operating lease right-of-use assets |
|
4,146.4 |
|
3,672.7 |
||
Goodwill |
|
421.2 |
|
423.3 |
||
Deferred income taxes, net |
|
260.6 |
|
9.0 |
||
Other assets |
|
133.6 |
|
99.4 |
||
Noncurrent assets of discontinued operations |
|
- |
|
7,792.0 |
||
Total assets | $ |
18,644.0 |
$ |
22,023.5 |
||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||
Current liabilities: | ||||||
Current portion of long-term debt | $ |
1,000.0 |
$ |
- |
||
Current portion of operating lease liabilities |
|
960.7 |
|
899.8 |
||
Accounts payable |
|
1,705.8 |
|
1,167.1 |
||
Income taxes payable |
|
120.1 |
|
52.7 |
||
Other current liabilities |
|
574.4 |
|
578.3 |
||
Current liabilities of discontinued operations |
|
4,224.9 |
|
1,998.8 |
||
Total current liabilities |
|
8,585.9 |
|
4,696.7 |
||
Long-term debt, net, excluding current portion |
|
2,431.2 |
|
3,426.3 |
||
Operating lease liabilities, long-term |
|
3,438.7 |
|
3,042.3 |
||
Deferred income taxes, net |
|
- |
|
841.1 |
||
Income taxes payable, long-term |
|
28.2 |
|
22.0 |
||
Other liabilities |
|
182.6 |
|
143.5 |
||
Noncurrent liabilities of discontinued operations |
|
- |
|
2,538.5 |
||
Total liabilities |
|
14,666.6 |
|
14,710.4 |
||
Shareholders' equity |
|
3,977.4 |
|
7,313.1 |
||
Total liabilities and shareholders' equity | $ |
18,644.0 |
$ |
22,023.5 |
DOLLAR TREE, INC. | ||||||||
Condensed Consolidated Statements of Cash Flows | ||||||||
(In millions) | ||||||||
(Unaudited) | ||||||||
52 Weeks Ended | 53 Weeks Ended | |||||||
February 1, 2025 | February 3, 2024 | |||||||
Cash flows from operating activities: | ||||||||
Net income (loss) | $ |
(3,030.1 |
) |
$ |
(998.4 |
) |
||
Income (loss) from discontinued operations, net of tax |
|
(4,072.6 |
) |
|
(2,264.2 |
) |
||
Income from continuing operations | $ |
1,042.5 |
|
$ |
1,265.8 |
|
||
Adjustments to reconcile income from continuing operations to net cash provided by operating activities: | ||||||||
Depreciation and amortization |
|
526.9 |
|
|
400.5 |
|
||
Provision for deferred income taxes |
|
49.3 |
|
|
55.1 |
|
||
Stock-based compensation expense |
|
106.9 |
|
|
76.3 |
|
||
Impairments |
|
52.1 |
|
|
10.9 |
|
||
Other non-cash adjustments to income from continuing operations |
|
20.0 |
|
|
8.6 |
|
||
Changes in operating assets and liabilities: | ||||||||
Merchandise inventories |
|
(182.6 |
) |
|
488.2 |
|
||
Other current assets |
|
(32.8 |
) |
|
(37.9 |
) |
||
Other assets |
|
(78.1 |
) |
|
(54.5 |
) |
||
Accounts payable |
|
541.4 |
|
|
87.9 |
|
||
Income taxes payable |
|
110.6 |
|
|
67.2 |
|
||
Other current liabilities |
|
14.4 |
|
|
92.4 |
|
||
Other liabilities |
|
45.4 |
|
|
14.5 |
|
||
Operating lease right-of-use assets and liabilities, net |
|
(22.7 |
) |
|
(74.2 |
) |
||
Net cash provided by operating activities of continuing operations |
|
2,193.3 |
|
|
2,400.8 |
|
||
Cash flows from investing activities: | ||||||||
Capital expenditures |
|
(1,300.5 |
) |
|
(1,193.8 |
) |
||
Proceeds from insurance recoveries |
|
50.0 |
|
|
- |
|
||
Proceeds from (payments for) fixed asset disposition |
|
1.1 |
|
|
(1.0 |
) |
||
Net cash used in investing activities of continuing operations |
|
(1,249.4 |
) |
|
(1,194.8 |
) |
||
Cash flows from financing activities: | ||||||||
Proceeds from commercial paper notes |
|
3,206.1 |
|
|
1,067.9 |
|
||
Repayments of commercial paper notes |
|
(3,206.1 |
) |
|
(1,067.9 |
) |
||
Proceeds from stock issued pursuant to stock-based compensation plans |
|
9.8 |
|
|
10.0 |
|
||
Cash paid for taxes on exercises/vesting of stock-based compensation |
|
(21.1 |
) |
|
(40.0 |
) |
||
Payments for repurchase of stock |
|
(400.0 |
) |
|
(500.0 |
) |
||
Net cash used in financing activities |
|
(411.3 |
) |
|
(530.0 |
) |
||
Cash flows from discontinued operations: | ||||||||
Net cash provided by operating activities of discontinued operations |
|
669.2 |
|
|
283.7 |
|
||
Net cash used in investing activities of discontinued operations |
|
(446.0 |
) |
|
(912.8 |
) |
||
Net cash provided by (used in) discontinued operations |
|
223.2 |
|
|
(629.1 |
) |
||
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
(1.8 |
) |
|
(1.0 |
) |
||
Net change in cash, cash equivalents and restricted cash |
|
754.0 |
|
|
45.9 |
|
||
Cash, cash equivalents and restricted cash at beginning of period |
|
757.2 |
|
|
711.3 |
|
||
Cash, cash equivalents and restricted cash at end of period | $ |
1,511.2 |
|
$ |
757.2 |
|
DOLLAR TREE, INC. | |||||||||||||||||||||||||||
Segment Information | |||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||
13 Weeks Ended | 14 Weeks Ended | 52 Weeks Ended | 53 Weeks Ended | ||||||||||||||||||||||||
February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | ||||||||||||||||||||||||
Net Sales: | |||||||||||||||||||||||||||
Dollar Tree | $ |
4,996.7 |
|
$ |
4,961.4 |
|
$ |
17,565.8 |
|
$ |
16,770.3 |
|
|||||||||||||||
Corporate, support and other |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|||||||||||||||
Total net sales | $ |
4,996.7 |
|
$ |
4,961.4 |
|
$ |
17,565.8 |
|
$ |
16,770.3 |
|
|||||||||||||||
Other revenue: | |||||||||||||||||||||||||||
Dollar Tree | $ |
- |
|
$ |
- |
|
$ |
0.1 |
|
$ |
0.1 |
|
|||||||||||||||
Corporate, support and other |
|
3.1 |
|
|
2.9 |
|
|
12.6 |
|
|
10.7 |
|
|||||||||||||||
Total other revenue | $ |
3.1 |
|
$ |
2.9 |
|
$ |
12.7 |
|
$ |
10.8 |
|
|||||||||||||||
Total Revenue: | |||||||||||||||||||||||||||
Dollar Tree | $ |
4,996.7 |
|
$ |
4,961.4 |
|
$ |
17,565.9 |
|
$ |
16,770.4 |
|
|||||||||||||||
Corporate, support and other |
|
3.1 |
|
|
2.9 |
|
|
12.6 |
|
|
10.7 |
|
|||||||||||||||
Total revenue | $ |
4,999.8 |
|
$ |
4,964.3 |
|
$ |
17,578.5 |
|
$ |
16,781.1 |
|
|||||||||||||||
Cost of sales: | |||||||||||||||||||||||||||
Dollar Tree | $ |
3,116.9 |
|
62.4 |
% |
$ |
3,028.2 |
|
61.0 |
% |
$ |
11,284.1 |
|
64.2 |
% |
$ |
10,761.4 |
|
64.2 |
% |
|||||||
Corporate, support and other |
|
- |
|
- |
|
|
- |
|
- |
|
|
- |
|
- |
|
|
- |
|
- |
|
|||||||
Total cost of sales | $ |
3,116.9 |
|
62.4 |
% |
$ |
3,028.2 |
|
61.0 |
% |
$ |
11,284.1 |
|
64.2 |
% |
$ |
10,761.4 |
|
64.2 |
% |
|||||||
Gross profit: | |||||||||||||||||||||||||||
Dollar Tree | $ |
1,879.8 |
|
37.6 |
% |
$ |
1,933.2 |
|
39.0 |
% |
$ |
6,281.7 |
|
35.8 |
% |
$ |
6,008.9 |
|
35.8 |
% |
|||||||
Corporate, support and other |
|
- |
|
- |
|
|
- |
|
- |
|
|
- |
|
- |
|
|
- |
|
- |
|
|||||||
Total gross profit | $ |
1,879.8 |
|
37.6 |
% |
$ |
1,933.2 |
|
39.0 |
% |
$ |
6,281.7 |
|
35.8 |
% |
$ |
6,008.9 |
|
35.8 |
% |
|||||||
Selling, general and administrative expenses: | |||||||||||||||||||||||||||
Dollar Tree | $ |
1,120.7 |
|
22.4 |
% |
$ |
1,070.6 |
|
21.6 |
% |
$ |
4,193.2 |
|
23.9 |
% |
$ |
3,730.2 |
|
22.2 |
% |
|||||||
Corporate, support and other1 |
|
228.6 |
|
4.6 |
% |
|
139.9 |
|
2.8 |
% |
|
639.2 |
|
3.6 |
% |
|
515.0 |
|
3.1 |
% |
|||||||
Total selling, general and administrative expenses | $ |
1,349.3 |
|
27.0 |
% |
$ |
1,210.5 |
|
24.4 |
% |
$ |
4,832.4 |
|
27.5 |
% |
$ |
4,245.2 |
|
25.3 |
% |
|||||||
Operating income (loss): | |||||||||||||||||||||||||||
Dollar Tree | $ |
759.1 |
|
15.2 |
% |
$ |
862.6 |
|
17.4 |
% |
$ |
2,088.6 |
|
11.9 |
% |
$ |
2,278.8 |
|
13.6 |
% |
|||||||
Corporate, support and other1 |
|
(225.5 |
) |
(4.5 |
%) |
|
(137.0 |
) |
(2.8 |
%) |
|
(626.6 |
) |
(3.6 |
%) |
|
(504.3 |
) |
(3.0 |
%) |
|||||||
Total operating income | $ |
533.6 |
|
10.7 |
% |
$ |
725.6 |
|
14.6 |
% |
$ |
1,462.0 |
|
8.3 |
% |
$ |
1,774.5 |
|
10.6 |
% |
1Corporate, support and other SG&A expenses and operating loss shown as a percentage of total revenue for continuing operations |
DOLLAR TREE, INC. | ||||||||
Dollar Tree Segment Information | ||||||||
(Unaudited) | ||||||||
13 Weeks Ended | 14 Weeks Ended | 52 Weeks Ended | 53 Weeks Ended | |||||
February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | |||||
Store Count: | ||||||||
Beginning | 8,868 |
|
8,272 |
|
8,415 |
|
8,134 |
|
New stores | 33 |
|
146 |
|
525 |
|
333 |
|
Stores converted from Family Dollar (a) | 4 |
|
10 |
|
12 |
|
15 |
|
Closings | (24 |
) |
(13 |
) |
(71 |
) |
(67 |
) |
Ending | 8,881 |
|
8,415 |
|
8,881 |
|
8,415 |
|
Selling Square Footage (in millions) | 78.4 |
|
73.1 |
|
78.4 |
|
73.1 |
|
Growth Rate (Square Footage) | 7.3 |
% |
3.7 |
% |
7.3 |
% |
3.7 |
% |
Sales per Square Foot (b) |
|
|
|
|
(a) |
Stores converted from a Family Dollar store to a Dollar Tree store are reflected in the table above when they re-opened as a Dollar Tree store. |
(b) |
Sales per square foot is calculated based on total net sales for the reporting period divided by the average selling square footage during the period. |
DOLLAR TREE, INC. | ||||||||||||
Family Dollar Segment | ||||||||||||
(reported as discontinued operations) | ||||||||||||
(Unaudited) | ||||||||||||
13 Weeks Ended | 14 Weeks Ended | 52 Weeks Ended | 53 Weeks Ended | |||||||||
(In millions) | February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | ||||||||
Revenues: | ||||||||||||
Net sales | $ |
3,260.4 |
|
$ |
3,671.5 |
|
$ |
13,252.1 |
|
$ |
13,811.3 |
|
Other revenue |
|
5.6 |
|
|
4.1 |
|
|
15.0 |
|
|
11.4 |
|
Total revenue | $ |
3,266.0 |
|
$ |
3,675.6 |
|
$ |
13,267.1 |
|
$ |
13,822.7 |
|
Cost of sales | $ |
2,400.5 |
|
$ |
2,833.1 |
|
$ |
9,894.5 |
|
$ |
10,510.6 |
|
Gross profit | $ |
859.9 |
|
$ |
838.4 |
|
$ |
3,357.6 |
|
$ |
3,300.7 |
|
Gross margin |
|
26.4 |
% |
|
22.8 |
% |
|
25.3 |
% |
|
23.9 |
% |
Selling, general and administrative expenses | $ |
2,719.0 |
|
$ |
3,459.0 |
|
$ |
5,197.4 |
|
$ |
5,968.4 |
|
SG&A rate |
|
83.3 |
% |
|
94.1 |
% |
|
39.2 |
% |
|
43.2 |
% |
Operating loss | $ |
(1,853.5 |
) |
$ |
(2,616.5 |
) |
$ |
(1,824.8 |
) |
$ |
(2,656.3 |
) |
Operating margin |
|
(56.8 |
%) |
|
(71.2 |
%) |
|
(13.8 |
%) |
|
(19.2 |
%) |
Store Count: | ||||||||||||
Beginning |
|
7,722 |
|
|
8,350 |
|
|
8,359 |
|
|
8,206 |
|
New stores |
|
1 |
|
|
73 |
|
|
76 |
|
|
308 |
|
Stores converted from Family Dollar (a) |
|
(1 |
) |
|
(5 |
) |
|
(15 |
) |
|
(15 |
) |
Closings |
|
(100 |
) |
|
(59 |
) |
|
(798 |
) |
|
(140 |
) |
Ending |
|
7,622 |
|
|
8,359 |
|
|
7,622 |
|
|
8,359 |
|
Selling Square Footage (in millions) |
|
58.3 |
|
|
63.7 |
|
|
58.3 |
|
|
63.7 |
|
Growth Rate (Square Footage) |
|
(8.5 |
%) |
|
3.4 |
% |
|
(8.5 |
%) |
|
3.4 |
% |
Sales per Square Foot (b) |
|
|
|
|
|
|
(a) |
Stores converted from a Family Dollar store to a Dollar Tree store are reflected in the table above when the Family Dollar store closed. |
(b) |
Sales per square foot is calculated based on total net sales for the reporting period divided by the average selling square footage during the period. |
DOLLAR TREE, INC. | |
Reconciliation of Non-GAAP Financial Measures | |
(In millions, except per share data) | |
(Unaudited) | |
From time-to-time, the Company discloses certain financial measures not derived in accordance with GAAP. These non-GAAP financial measures should not be used as a substitute for GAAP financial measures, or considered in isolation, for the purposes of analyzing operating performance, financial position, liquidity, or cash flows. The non-GAAP financial measures we have disclosed include adjusted gross profit; adjusted gross profit margin; adjusted selling, general and administrative expenses; adjusted selling, general and administrative expense rate; adjusted operating income (loss); adjusted operating income (loss) margin; adjusted net income; adjusted diluted earnings per share; and adjusted effective tax rate, in each case with respect to our continuing operations, discontinued operations, consolidated operations and segments; and free cash flow. The Company believes providing additional information in these non-GAAP measures that exclude the unusual expenses described below is beneficial to the users of its financial statements in evaluating the Company's current operating results in relation to past periods. In addition, the Company's debt covenants exclude the impact of certain unusual expenses. The Company has included a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures in the following tables. | |
1.) |
In the first quarter of fiscal 2024, the Company reduced its legal reserve by |
2.) |
During the fourth quarter of fiscal 2023, we announced that we had initiated a comprehensive store portfolio optimization review which involved identifying stores for closure, relocation or re-bannering based on an evaluation of current market conditions and individual store performance, among other factors. In connection with this portfolio optimization review, we have closed approximately 695 Family Dollar stores and incurred |
3.) |
During the first quarter of fiscal 2024, a tornado destroyed our Dollar Tree distribution center in |
4.) |
During the second quarter of fiscal 2024, we announced that we had initiated a formal review of strategic alternatives for the Family Dollar business segment, which could include among others, a potential sale, spin-off or other disposition of the business. Since the second quarter of fiscal 2024, we incurred consulting and other expenses totaling |
5.) |
In connection with the decision to sell the Family Dollar business in the fourth quarter of fiscal 2024, the Company recorded software impairments and related contract termination costs of approximately |
6.) |
In the fourth quarter of fiscal 2024, the Company performed its annual impairment testing of goodwill and nonamortizing intangible assets. The impairment test of nonamortizing intangible assets indicated that the carrying value of the Family Dollar trade name exceeded its estimated fair value resulting in the recognition of a |
7.) |
In the fourth quarter of fiscal 2024, the Company performed a review of events or changes in circumstances that indicate whether the carrying amount of store-related asset groups may not be recoverable. As a result of this review, we identified underperforming stores within the Family Dollar business that indicated that the carrying amount of their long-lived assets may not be recoverable and recorded |
8.) |
In the fourth quarter of fiscal 2024, Richard W. Dreiling, Executive Chairman and Chief Executive Officer resigned from the Company. As a result, |
In addition, the Company discloses free cash flow, a non-GAAP financial measure that we calculate as net cash provided by operating activities less capital expenditures. The Company believes free cash flow is an important indicator of our liquidity as it measures the amount of cash we generate from our business operations. Free cash flow may not represent the amount of cash flow available for general discretionary use, because it excludes non-discretionary expenditures, such as mandatory debt repayments and required settlements of recorded and/or contingent liabilities not reflected in cash flow from operations. The Company has included a reconciliation of free cash flow to the most comparable GAAP measures in the following tables. | |
A reconciliation of the projected adjusted diluted EPS, which is a forward-looking non-GAAP financial measure, to the most directly comparable GAAP financial measure, is not provided because the company is unable to provide such reconciliation without unreasonable effort. The inability to provide a reconciliation is due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the non-GAAP adjustments may be recognized. GAAP measures may include the impact of such items as litigation reserves; restructuring charges; goodwill and intangible asset impairments; natural disasters; our store portfolio optimization review and strategic review and pending sale of Family Dollar, and the tax effect of all such items. Historically, the company has excluded these items from non-GAAP financial measures. The company currently expects to continue to exclude these items in future disclosures of non-GAAP financial measures and may also exclude other items that may arise (collectively, “non-GAAP adjustments”). The decisions and events that typically lead to the recognition of non-GAAP adjustments, such as a decision to exit part of the business or reaching settlement of a legal dispute, are inherently unpredictable as to if or when they may occur. For the same reasons, the company is unable to address the probable significance of the unavailable information, which could be material to future results. |
DOLLAR TREE, INC. | ||||||||||||||||
Reconciliation of Non-GAAP Financial Measures - Continuing Operations | ||||||||||||||||
(In millions, except per share data) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
13 Weeks Ended | 14 Weeks Ended | 52 Weeks Ended | 53 Weeks Ended | |||||||||||||
February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
Reconciliation of Adjusted Selling, General and Administrative Expenses - Dollar Tree Segment | ||||||||||||||||
Selling, general and administrative expenses - GAAP | $ |
1,120.7 |
|
$ |
1,070.6 |
|
$ |
4,193.2 |
|
$ |
3,730.2 |
|
||||
Deduct: Strategic review costs |
|
(8.8 |
) |
|
- |
|
|
(10.0 |
) |
|
- |
|
||||
Add/Deduct: Severance |
|
0.2 |
|
|
- |
|
|
(2.0 |
) |
|
- |
|
||||
Deduct: Long-lived asset impairment |
|
- |
|
|
(10.8 |
) |
|
- |
|
|
(10.8 |
) |
||||
Adjusted selling, general and administrative expenses (Non-GAAP) | $ |
1,112.1 |
|
$ |
1,059.8 |
|
$ |
4,181.2 |
|
$ |
3,719.4 |
|
||||
Adjusted selling, general and administrative expense rate (Non-GAAP) |
|
22.3 |
% |
|
21.4 |
% |
|
23.8 |
% |
|
22.2 |
% |
||||
Adjusted selling, general and administrative expense rate |
|
22.3 |
% |
|
21.4 |
% |
|
23.8 |
% |
|
22.1 |
% |
||||
Reconciliation of Adjusted Operating Income - Dollar Tree Segment | ||||||||||||||||
Operating income (GAAP) | $ |
759.1 |
|
$ |
862.6 |
|
$ |
2,088.6 |
|
$ |
2,278.8 |
|
||||
Add: Strategic review costs |
|
8.8 |
|
|
- |
|
|
10.0 |
|
|
- |
|
||||
Add/Deduct: Severance |
|
(0.2 |
) |
|
- |
|
|
2.0 |
|
|
- |
|
||||
Add: Long-lived asset impairment |
|
- |
|
|
10.8 |
|
|
- |
|
|
10.8 |
|
||||
Adjusted operating income (Non-GAAP) | $ |
767.7 |
|
$ |
873.4 |
|
$ |
2,100.6 |
|
$ |
2,289.6 |
|
||||
Adjusted operating income margin (Non-GAAP) |
|
15.4 |
% |
|
17.6 |
% |
|
12.0 |
% |
|
13.7 |
% |
||||
Reconciliation of Adjusted Selling, General and Administrative Expenses - Continuing Operations |
||||||||||||||||
Selling, general and administrative expenses - GAAP | $ |
1,349.3 |
|
$ |
1,210.5 |
|
$ |
4,832.4 |
|
$ |
4,245.2 |
|
||||
Deduct: Strategic review costs |
|
(9.1 |
) |
|
- |
|
|
(10.3 |
) |
|
- |
|
||||
Add/Deduct: Severance |
|
0.2 |
|
|
- |
|
|
(2.0 |
) |
|
- |
|
||||
Add/Deduct: Store closure costs |
|
0.1 |
|
|
- |
|
|
(2.3 |
) |
|
- |
|
||||
Deduct: Software impairments and termination costs |
|
(58.3 |
) |
|
- |
|
|
(58.3 |
) |
|
- |
|
||||
Deduct: Stock option acceleration cost |
|
(27.1 |
) |
|
- |
|
|
(27.1 |
) |
|
- |
|
||||
Deduct: Long-lived asset impairment |
|
- |
|
|
(10.8 |
) |
|
- |
|
|
(10.8 |
) |
||||
Deduct: Other consulting fees |
|
- |
|
|
(4.3 |
) |
|
- |
|
|
(4.3 |
) |
||||
Adjusted selling, general and administrative expenses (Non-GAAP) | $ |
1,255.1 |
|
$ |
1,195.4 |
|
$ |
4,732.4 |
|
$ |
4,230.1 |
|
||||
Adjusted selling, general and administrative expense rate |
|
25.1 |
% |
|
24.1 |
% |
|
26.9 |
% |
|
25.2 |
% |
||||
Reconciliation of Adjusted Operating Income - Continuing Operations | ||||||||||||||||
Operating income (GAAP) | $ |
533.6 |
|
$ |
725.6 |
|
$ |
1,462.0 |
|
$ |
1,774.5 |
|
||||
Add: Strategic review costs |
|
9.1 |
|
|
- |
|
|
10.3 |
|
|
- |
|
||||
Add/Deduct: Severance |
|
(0.2 |
) |
|
- |
|
|
2.0 |
|
|
- |
|
||||
Add/Deduct: Store closure costs |
|
(0.1 |
) |
|
- |
|
|
2.3 |
|
|
- |
|
||||
Add: Software impairments and termination costs |
|
58.3 |
|
|
- |
|
|
58.3 |
|
|
- |
|
||||
Add: Stock option acceleration cost |
|
27.1 |
|
|
- |
|
|
27.1 |
|
|
- |
|
||||
Add: Long-lived asset impairment |
|
- |
|
|
10.8 |
|
|
- |
|
|
10.8 |
|
||||
Add: Other consulting fees |
|
- |
|
|
4.3 |
|
|
- |
|
|
4.3 |
|
||||
Adjusted operating income (Non-GAAP) | $ |
627.8 |
|
$ |
740.7 |
|
$ |
1,562.0 |
|
$ |
1,789.6 |
|
||||
Adjusted operating income margin (Non-GAAP) |
|
12.6 |
% |
|
14.9 |
% |
|
8.9 |
% |
|
10.7 |
% |
DOLLAR TREE, INC. | ||||||||||||||||
Reconciliation of Non-GAAP Financial Measures - Continuing Operations | ||||||||||||||||
(In millions, except per share data) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
13 Weeks Ended | 14 Weeks Ended | 52 Weeks Ended | 53 Weeks Ended | |||||||||||||
February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | |||||||||||||
Reconciliation of Adjusted Income from Continuing Operations | ||||||||||||||||
Income from Continuing Operations (GAAP) | $ |
400.2 |
|
$ |
532.4 |
|
$ |
1,042.5 |
|
$ |
1,265.8 |
|
||||
SG&A adjustments: | ||||||||||||||||
Add: Strategic review costs |
|
9.1 |
|
|
- |
|
|
10.3 |
|
|
- |
|
||||
Add/Deduct: Severance |
|
(0.2 |
) |
|
- |
|
|
2.0 |
|
|
- |
|
||||
Add/Deduct: Store closure costs |
|
(0.1 |
) |
|
- |
|
|
2.3 |
|
|
- |
|
||||
Add: Software impairments and termination costs |
|
58.3 |
|
|
- |
|
|
58.3 |
|
|
- |
|
||||
Add: Stock option acceleration cost |
|
27.1 |
|
|
- |
|
|
27.1 |
|
|
- |
|
||||
Add: Long-lived asset impairment |
|
- |
|
|
10.8 |
|
|
- |
|
|
10.8 |
|
||||
Add: Other consulting fees |
|
- |
|
|
4.3 |
|
|
- |
|
|
4.3 |
|
||||
Non-operating adjustment: | ||||||||||||||||
Deduct: Non-operating insurance gain |
|
(29.7 |
) |
|
- |
|
|
(29.7 |
) |
|
- |
|
||||
Provision for income tax adjustments |
|
(9.9 |
) |
|
(3.8 |
) |
|
(11.2 |
) |
|
(3.8 |
) |
||||
Adjusted income from continuing operations (Non-GAAP) | $ |
454.8 |
|
$ |
543.7 |
|
$ |
1,101.6 |
|
$ |
1,277.1 |
|
||||
Adjusted income from continuing operations as percentage of total revenue (Non-GAAP) |
|
9.1 |
% |
|
11.0 |
% |
|
6.3 |
% |
|
7.6 |
% |
||||
Reconciliation of Adjusted Diluted Earnings Per Share - Continuing Operations | ||||||||||||||||
Diluted earnings per share - continuing operations (GAAP) | $ |
1.86 |
|
$ |
2.44 |
|
$ |
4.83 |
|
$ |
5.76 |
|
||||
SG&A adjustments: | ||||||||||||||||
Add: Strategic review costs |
|
0.04 |
|
|
- |
|
|
0.05 |
|
|
- |
|
||||
Add/Deduct: Severance |
|
(0.00 |
) |
|
- |
|
|
0.01 |
|
|
- |
|
||||
Add/Deduct: Store closure costs |
|
(0.00 |
) |
|
- |
|
|
0.01 |
|
|
- |
|
||||
Add: Software impairments and termination costs |
|
0.27 |
|
|
- |
|
|
0.27 |
|
|
- |
|
||||
Add: Stock option acceleration cost |
|
0.13 |
|
|
- |
|
|
0.13 |
|
|
- |
|
||||
Add: Long-lived asset impairment |
|
- |
|
|
0.05 |
|
|
- |
|
|
0.05 |
|
||||
Add: Other consulting fees |
|
- |
|
|
0.02 |
|
|
- |
|
|
0.02 |
|
||||
Non-operating adjustment: | ||||||||||||||||
Deduct: Non-operating insurance gain |
|
(0.14 |
) |
|
- |
|
|
(0.14 |
) |
|
- |
|
||||
Provision for income tax adjustments |
|
(0.05 |
) |
|
(0.02 |
) |
|
(0.05 |
) |
|
(0.02 |
) |
||||
Adjusted diluted earnings per share - continuing operations (Non-GAAP) | $ |
2.11 |
|
$ |
2.49 |
|
$ |
5.10 |
|
$ |
5.81 |
|
||||
Reconciliation of Adjusted Effective Tax Rate - Continuing Operations | ||||||||||||||||
Effective tax rate (GAAP) |
|
25.9 |
% |
|
23.7 |
% |
|
24.7 |
% |
|
23.8 |
% |
||||
Add/deduct: tax impact of non-GAAP adjustments |
|
-1.1 |
% |
|
0.1 |
% |
|
-0.5 |
% |
|
0.0 |
% |
||||
Consolidated adjusted effective tax rate (non-GAAP) |
|
24.8 |
% |
|
23.8 |
% |
|
24.2 |
% |
|
23.8 |
% |
||||
Amounts in tables above may not recalculate due to rounding |
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Dollar Tree Segment | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Revenues: | |||||||||||||||||||
Net sales | $ |
4,165.6 |
|
$ |
4,065.5 |
|
$ |
4,338.0 |
|
$ |
4,996.7 |
|
$ |
17,565.8 |
|
||||
Other revenue |
|
- |
|
|
- |
|
|
0.1 |
|
|
- |
|
|
0.1 |
|
||||
Total revenue |
|
4,165.6 |
|
|
4,065.5 |
|
|
4,338.1 |
|
|
4,996.7 |
|
|
17,565.9 |
|
||||
Expenses: | |||||||||||||||||||
Cost of sales |
|
2,689.1 |
|
|
2,674.2 |
|
|
2,803.9 |
|
|
3,116.9 |
|
|
11,284.1 |
|
||||
Selling, general and administrative expenses |
|
954.2 |
|
|
1,049.3 |
|
|
1,069.0 |
|
|
1,120.7 |
|
|
4,193.2 |
|
||||
Operating income | $ |
522.3 |
|
$ |
342.0 |
|
$ |
465.2 |
|
$ |
759.1 |
|
$ |
2,088.6 |
|
||||
Gross profit margin |
|
35.4 |
% |
|
34.2 |
% |
|
35.4 |
% |
|
37.6 |
% |
|
35.8 |
% |
||||
Selling, general and administrative expense rate |
|
22.9 |
% |
|
25.8 |
% |
|
24.6 |
% |
|
22.4 |
% |
|
23.9 |
% |
||||
Operating income margin |
|
12.5 |
% |
|
8.4 |
% |
|
10.7 |
% |
|
15.2 |
% |
|
11.9 |
% |
||||
Reconciliation of Adjusted Selling, General and Administrative Expenses - Dollar Tree Segment |
|||||||||||||||||||
Selling, general and administrative expenses - GAAP | $ |
954.2 |
|
$ |
1,049.3 |
|
$ |
1,069.0 |
|
$ |
1,120.7 |
|
$ |
4,193.2 |
|
||||
Deduct: Strategic review costs |
|
- |
|
|
- |
|
|
(1.2 |
) |
|
(8.8 |
) |
|
(10.0 |
) |
||||
Add/Deduct: Severance |
|
- |
|
|
(2.2 |
) |
|
- |
|
|
0.2 |
|
|
(2.0 |
) |
||||
Adjusted selling, general and administrative expenses (Non-GAAP) |
$ |
954.2 |
|
$ |
1,047.1 |
|
$ |
1,067.8 |
|
$ |
1,112.1 |
|
$ |
4,181.2 |
|
||||
Adjusted selling, general and administrative expense rate (Non-GAAP) |
|
22.9 |
% |
|
25.8 |
% |
|
24.6 |
% |
|
22.3 |
% |
|
23.8 |
% |
||||
Reconciliation of Adjusted Operating Income - Dollar Tree Segment | |||||||||||||||||||
Operating income (GAAP) | $ |
522.3 |
|
$ |
342.0 |
|
$ |
465.2 |
|
$ |
759.1 |
|
$ |
2,088.6 |
|
||||
Add: Strategic review costs |
|
- |
|
|
- |
|
|
1.2 |
|
|
8.8 |
|
|
10.0 |
|
||||
Add/Deduct: Severance |
|
- |
|
|
2.2 |
|
|
- |
|
|
(0.2 |
) |
|
2.0 |
|
||||
Adjusted operating income (Non-GAAP) | $ |
522.3 |
|
$ |
344.2 |
|
$ |
466.4 |
|
$ |
767.7 |
|
$ |
2,100.6 |
|
||||
Adjusted operating income margin (Non-GAAP) |
|
12.5 |
% |
|
8.4 |
% |
|
10.7 |
% |
|
15.4 |
% |
|
12.0 |
% |
||||
Amounts in tables above may not recalculate due to rounding |
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Corporate, Support and Other | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Revenues: | |||||||||||||||||||
Net sales | $ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
||||
Other revenue |
|
3.3 |
|
|
3.1 |
|
|
3.1 |
|
|
3.1 |
|
|
12.6 |
|
||||
Total revenue |
|
3.3 |
|
|
3.1 |
|
|
3.1 |
|
|
3.1 |
|
|
12.6 |
|
||||
Expenses: | |||||||||||||||||||
Cost of sales |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
Selling, general and administrative |
|
143.7 |
|
|
129.3 |
|
|
137.6 |
|
|
228.6 |
|
|
639.2 |
|
||||
Operating loss | $ |
(140.4 |
) |
$ |
(126.2 |
) |
$ |
(134.5 |
) |
$ |
(225.5 |
) |
$ |
(626.6 |
) |
||||
Selling, general and administrative expense rate1 |
|
1.9 |
% |
|
1.8 |
% |
|
1.8 |
% |
|
2.8 |
% |
|
2.1 |
% |
||||
Operating loss margin1 |
|
-1.8 |
% |
|
-1.7 |
% |
|
-1.8 |
% |
|
-2.7 |
% |
|
-2.0 |
% |
Reconciliation of Adjusted Selling, General and Administrative Expenses - Corporate, Support and Other |
|||||||||||||||||||
Selling, general and administrative expenses - GAAP | $ |
143.7 |
|
$ |
129.3 |
|
$ |
137.6 |
|
$ |
228.6 |
|
$ |
639.2 |
|
||||
Add/Deduct: Store closure costs |
|
(0.7 |
) |
|
(1.8 |
) |
|
0.1 |
|
|
0.1 |
|
|
(2.3 |
) |
||||
Deduct: Strategic review costs |
|
- |
|
|
- |
|
|
- |
|
|
(0.3 |
) |
|
(0.3 |
) |
||||
Deduct: Software impairments and termination costs |
|
- |
|
|
- |
|
|
- |
|
|
(58.3 |
) |
|
(58.3 |
) |
||||
Deduct: Stock option acceleration cost |
|
- |
|
|
- |
|
|
- |
|
|
(27.1 |
) |
|
(27.1 |
) |
||||
Adjusted selling, general and administrative expenses (Non-GAAP) |
$ |
143.0 |
|
$ |
127.5 |
|
$ |
137.7 |
|
$ |
143.0 |
|
$ |
551.2 |
|
||||
Adjusted selling, general and administrative expense rate1 |
|
1.9 |
% |
|
1.7 |
% |
|
1.8 |
% |
|
1.7 |
% |
|
1.8 |
% |
Reconciliation of Adjusted Operating Loss - Corporate, Support and Other | |||||||||||||||||||
Operating loss (GAAP) | $ |
(140.4 |
) |
$ |
(126.2 |
) |
$ |
(134.5 |
) |
$ |
(225.5 |
) |
$ |
(626.6 |
) |
||||
Add/Deduct: Store closure costs |
|
0.7 |
|
|
1.8 |
|
|
(0.1 |
) |
|
(0.1 |
) |
|
2.3 |
|
||||
Add: Strategic review costs |
|
- |
|
|
- |
|
|
- |
|
|
0.3 |
|
|
0.3 |
|
||||
Add: Software impairments and termination costs |
|
- |
|
|
- |
|
|
- |
|
|
58.3 |
|
|
58.3 |
|
||||
Add: Stock option acceleration cost |
|
- |
|
|
- |
|
|
- |
|
|
27.1 |
|
|
27.1 |
|
||||
Adjusted operating loss (Non-GAAP) | $ |
(139.7 |
) |
$ |
(124.4 |
) |
$ |
(134.6 |
) |
$ |
(139.9 |
) |
$ |
(538.6 |
) |
||||
Adjusted operating loss margin (Non-GAAP)1 |
|
-1.8 |
% |
|
-1.7 |
% |
|
-1.8 |
% |
|
-1.7 |
% |
|
-1.7 |
% |
1Selling, general and administrative rate and operating loss margin are calculated as a percentage of total enterprise revenue |
Amounts in tables above may not recalculate due to rounding |
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Continuing Operations | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Revenues: | |||||||||||||||||||
Net sales | $ |
4,165.6 |
|
$ |
4,065.5 |
|
$ |
4,338.0 |
|
$ |
4,996.7 |
|
$ |
17,565.8 |
|
||||
Other revenue |
|
3.3 |
|
|
3.1 |
|
|
3.2 |
|
|
3.1 |
|
|
12.7 |
|
||||
Total revenue |
|
4,168.9 |
|
|
4,068.6 |
|
|
4,341.2 |
|
|
4,999.8 |
|
|
17,578.5 |
|
||||
Expenses: | |||||||||||||||||||
Cost of sales |
|
2,689.1 |
|
|
2,674.2 |
|
|
2,803.9 |
|
|
3,116.9 |
|
|
11,284.1 |
|
||||
Selling, general and administrative expenses |
|
1,097.9 |
|
|
1,178.6 |
|
|
1,206.6 |
|
|
1,349.3 |
|
|
4,832.4 |
|
||||
Operating income |
|
381.9 |
|
|
215.8 |
|
|
330.7 |
|
|
533.6 |
|
|
1,462.0 |
|
||||
Interest expense, net |
|
26.7 |
|
|
29.9 |
|
|
28.3 |
|
|
22.6 |
|
|
107.5 |
|
||||
Other (income) expense, net |
|
0.1 |
|
|
- |
|
|
0.1 |
|
|
(29.3 |
) |
|
(29.1 |
) |
||||
Income from continuing operations before income taxes |
|
355.1 |
|
|
185.9 |
|
|
302.3 |
|
|
540.3 |
|
|
1,383.6 |
|
||||
Provision for income taxes |
|
87.4 |
|
|
43.6 |
|
|
70.0 |
|
|
140.1 |
|
|
341.1 |
|
||||
Income from continuing operations | $ |
267.7 |
|
$ |
142.3 |
|
$ |
232.3 |
|
$ |
400.2 |
|
$ |
1,042.5 |
|
||||
Basic earnings per share: | |||||||||||||||||||
Continuing operations | $ |
1.23 |
|
$ |
0.66 |
|
$ |
1.09 |
|
$ |
1.86 |
|
$ |
4.83 |
|
||||
Weighted average number of shares |
|
217.8 |
|
|
215.0 |
|
|
215.0 |
|
|
215.1 |
|
|
215.7 |
|
||||
Diluted earnings per share: | |||||||||||||||||||
Continuing operations | $ |
1.23 |
|
$ |
0.66 |
|
$ |
1.08 |
|
$ |
1.86 |
|
$ |
4.83 |
|
||||
Weighted average number of shares |
|
218.1 |
|
|
215.2 |
|
|
215.2 |
|
|
215.3 |
|
|
215.9 |
|
||||
Gross profit margin |
|
35.4 |
% |
|
34.2 |
% |
|
35.4 |
% |
|
37.6 |
% |
|
35.8 |
% |
||||
Selling, general and administrative expense rate |
|
26.3 |
% |
|
29.0 |
% |
|
27.8 |
% |
|
27.0 |
% |
|
27.5 |
% |
||||
Operating income margin |
|
9.2 |
% |
|
5.3 |
% |
|
7.6 |
% |
|
10.7 |
% |
|
8.3 |
% |
||||
Income from continuing operations before income taxes as percentage of total revenue |
|
8.5 |
% |
|
4.6 |
% |
|
7.0 |
% |
|
10.8 |
% |
|
7.9 |
% |
||||
Effective tax rate |
|
24.6 |
% |
|
23.5 |
% |
|
23.2 |
% |
|
25.9 |
% |
|
24.7 |
% |
||||
Income from continuing operations as percentage of total revenue |
|
6.4 |
% |
|
3.5 |
% |
|
5.4 |
% |
|
8.0 |
% |
|
5.9 |
% |
Reconciliation of Adjusted Selling, General and Administrative Expenses - Continuing Operations |
|||||||||||||||||||
Selling, general and administrative expenses - GAAP | $ |
1,097.9 |
|
$ |
1,178.6 |
|
$ |
1,206.6 |
|
$ |
1,349.3 |
|
$ |
4,832.4 |
|
||||
Deduct: Strategic review costs |
|
- |
|
|
- |
|
|
(1.2 |
) |
|
(9.1 |
) |
|
(10.3 |
) |
||||
Add/Deduct: Severance |
|
- |
|
|
(2.2 |
) |
|
- |
|
|
0.2 |
|
|
(2.0 |
) |
||||
Add/Deduct: Store closure costs |
|
(0.7 |
) |
|
(1.8 |
) |
|
0.1 |
|
|
0.1 |
|
|
(2.3 |
) |
||||
Deduct: Software impairments and termination costs |
|
- |
|
|
- |
|
|
- |
|
|
(58.3 |
) |
|
(58.3 |
) |
||||
Deduct: Stock option acceleration cost |
|
- |
|
|
- |
|
|
- |
|
|
(27.1 |
) |
|
(27.1 |
) |
||||
Adjusted selling, general and administrative expenses (Non-GAAP) |
$ |
1,097.2 |
|
$ |
1,174.6 |
|
$ |
1,205.5 |
|
$ |
1,255.1 |
|
$ |
4,732.4 |
|
||||
Adjusted selling, general and administrative expense rate |
|
26.3 |
% |
|
28.9 |
% |
|
27.8 |
% |
|
25.1 |
% |
|
26.9 |
% |
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Continuing Operations | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Reconciliation of Adjusted Operating Income - Continuing Operations | |||||||||||||||||||
Operating income (GAAP) | $ |
381.9 |
|
$ |
215.8 |
|
$ |
330.7 |
|
$ |
533.6 |
|
$ |
1,462.0 |
|
||||
Add: Strategic review costs |
|
- |
|
|
- |
|
|
1.2 |
|
|
9.1 |
|
|
10.3 |
|
||||
Add/Deduct: Severance |
|
- |
|
|
2.2 |
|
# |
|
- |
|
# |
|
(0.2 |
) |
|
2.0 |
|
||
Add/Deduct: Store closure costs |
|
0.7 |
|
|
1.8 |
|
# |
|
(0.1 |
) |
# |
|
(0.1 |
) |
|
2.3 |
|
||
Add: Software impairments and termination costs |
|
- |
|
|
- |
|
# |
|
- |
|
# |
|
58.3 |
|
|
58.3 |
|
||
Add: Stock option acceleration cost |
|
- |
|
|
- |
|
# |
|
- |
|
# |
|
27.1 |
|
|
27.1 |
|
||
Adjusted operating income (Non-GAAP) | $ |
382.6 |
|
$ |
219.8 |
|
$ |
331.8 |
|
$ |
627.8 |
|
$ |
1,562.0 |
|
||||
Adjusted operating income margin (Non-GAAP) |
|
9.2 |
% |
|
5.4 |
% |
|
7.6 |
% |
|
12.6 |
% |
|
8.9 |
% |
Reconciliation of Adjusted Income from Continuing Operations | |||||||||||||||||||
Income from Continuing Operations (GAAP) | $ |
267.7 |
|
$ |
142.3 |
|
$ |
232.3 |
|
$ |
400.2 |
|
$ |
1,042.5 |
|
||||
SG&A adjustments: | |||||||||||||||||||
Add: Strategic review costs |
|
- |
|
|
- |
|
|
1.2 |
|
|
9.1 |
|
|
10.3 |
|
||||
Add/Deduct: Severance |
|
- |
|
|
2.2 |
|
|
- |
|
|
(0.2 |
) |
|
2.0 |
|
||||
Add/Deduct: Store closure costs |
|
0.7 |
|
|
1.8 |
|
|
(0.1 |
) |
|
(0.1 |
) |
|
2.3 |
|
||||
Add: Software impairments and termination costs |
|
- |
|
|
- |
|
|
- |
|
|
58.3 |
|
|
58.3 |
|
||||
Add: Stock option acceleration cost |
|
- |
|
|
- |
|
|
- |
|
|
27.1 |
|
|
27.1 |
|
||||
Non-operating adjustment: | |||||||||||||||||||
Deduct: Non-operating insurance gain |
|
- |
|
|
- |
|
|
- |
|
|
(29.7 |
) |
|
(29.7 |
) |
||||
Provision for income tax adjustments |
|
- |
|
|
(1.0 |
) |
|
(0.3 |
) |
|
(9.9 |
) |
|
(11.2 |
) |
||||
Adjusted income from continuing operations (Non-GAAP) | $ |
268.4 |
|
$ |
145.3 |
|
$ |
233.1 |
|
$ |
454.8 |
|
$ |
1,101.6 |
|
||||
Adjusted income from continuing operations as percentage of total revenue (Non-GAAP) |
|
6.4 |
% |
|
3.6 |
% |
|
5.4 |
% |
|
9.1 |
% |
|
6.3 |
% |
Reconciliation of Adjusted Diluted Earnings Per Share - Continuing Operations | ||||||||||||||||||
Diluted earnings per share - continuing operations (GAAP) | $ |
1.23 |
$ |
0.66 |
|
$ |
1.08 |
|
$ |
1.86 |
|
$ |
4.83 |
|
||||
SG&A adjustments: | ||||||||||||||||||
Add: Strategic review costs |
|
- |
|
- |
|
|
0.01 |
|
|
0.04 |
|
|
0.05 |
|
||||
Add/Deduct: Severance |
|
- |
|
0.01 |
|
|
- |
|
|
(0.00 |
) |
|
0.01 |
|
||||
Add/Deduct: Store closure costs |
|
0.00 |
|
0.01 |
|
|
(0.00 |
) |
|
(0.00 |
) |
|
0.01 |
|
||||
Add: Software impairments and termination costs |
|
- |
|
- |
|
|
- |
|
|
0.27 |
|
|
0.27 |
|
||||
Add: Stock option acceleration cost |
|
- |
|
- |
|
|
- |
|
|
0.13 |
|
|
0.13 |
|
||||
Non-operating adjustment: | ||||||||||||||||||
Deduct: Non-operating insurance gain |
|
- |
|
- |
|
|
- |
|
|
(0.14 |
) |
|
(0.14 |
) |
||||
Provision for income tax adjustments |
|
- |
|
(0.00 |
) |
|
(0.00 |
) |
|
(0.05 |
) |
|
(0.05 |
) |
||||
Adjusted diluted earnings per share - Continuing Operations (Non-GAAP) | $ |
1.23 |
$ |
0.68 |
|
$ |
1.08 |
|
$ |
2.11 |
|
$ |
5.10 |
|
Reconciliation of Adjusted Effective Tax Rate | ||||||||||||||
Effective tax rate (GAAP) | 24.6 |
% |
23.5 |
% |
23.2 |
% |
25.9 |
% |
24.7 |
% |
||||
Add/deduct: tax impact of non-GAAP adjustments | 0.0 |
% |
0.0 |
% |
0.0 |
% |
-1.1 |
% |
-0.5 |
% |
||||
Consolidated adjusted effective tax rate (non-GAAP) | 24.6 |
% |
23.5 |
% |
23.2 |
% |
24.8 |
% |
24.2 |
% |
Amounts in tables above may not recalculate due to rounding |
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Discontinued Operations | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Revenues: | |||||||||||||||||||
Net sales | $ |
3,460.8 |
|
$ |
3,307.2 |
|
$ |
3,223.7 |
|
$ |
3,260.4 |
|
$ |
13,252.1 |
|
||||
Other revenue |
|
3.1 |
|
|
3.0 |
|
|
3.3 |
|
|
5.6 |
|
|
15.0 |
|
||||
Total revenue |
|
3,463.9 |
|
|
3,310.2 |
|
|
3,227.0 |
|
|
3,266.0 |
|
|
13,267.1 |
|
||||
Expenses: | |||||||||||||||||||
Cost of sales |
|
2,589.6 |
|
|
2,484.0 |
|
|
2,420.4 |
|
|
2,400.5 |
|
|
9,894.5 |
|
||||
Selling, general and administrative expenses |
|
835.6 |
|
|
838.9 |
|
|
803.9 |
|
|
2,719.0 |
|
|
5,197.4 |
|
||||
Operating income (loss) |
|
38.7 |
|
|
(12.7 |
) |
|
2.7 |
|
|
(1,853.5 |
) |
|
(1,824.8 |
) |
||||
Interest income |
|
2.3 |
|
|
1.0 |
|
|
0.8 |
|
|
1.4 |
|
|
5.5 |
|
||||
Loss from classification to held for sale |
|
- |
|
|
- |
|
|
- |
|
|
3,438.8 |
|
|
3,438.8 |
|
||||
Income (loss) from discontinued operations before income taxes |
|
41.0 |
|
|
(11.7 |
) |
|
3.5 |
|
|
(5,290.9 |
) |
|
(5,258.1 |
) |
||||
Provision for income taxes |
|
8.6 |
|
|
(1.8 |
) |
|
2.5 |
|
|
(1,194.8 |
) |
|
(1,185.5 |
) |
||||
Income (loss) from discontinued operations, net of tax | $ |
32.4 |
|
$ |
(9.9 |
) |
$ |
1.0 |
|
$ |
(4,096.1 |
) |
$ |
(4,072.6 |
) |
||||
Basic earnings (loss) per share: | |||||||||||||||||||
Discontinued operations | $ |
0.15 |
|
$ |
(0.04 |
) |
$ |
0.00 |
|
$ |
(19.04 |
) |
$ |
(18.88 |
) |
||||
Weighted average number of shares |
|
217.8 |
|
|
215.0 |
|
|
215.0 |
|
|
215.1 |
|
|
215.7 |
|
||||
Diluted earnings (loss) per share: | |||||||||||||||||||
Discontinued operations | $ |
0.15 |
|
$ |
(0.04 |
) |
$ |
0.00 |
|
$ |
(19.03 |
) |
$ |
(18.86 |
) |
||||
Weighted average number of shares |
|
218.1 |
|
|
215.2 |
|
|
215.2 |
|
|
215.3 |
|
|
215.9 |
|
||||
Gross profit margin |
|
25.2 |
% |
|
24.9 |
% |
|
24.9 |
% |
|
26.4 |
% |
|
25.3 |
% |
||||
Selling, general and administrative expense rate |
|
24.1 |
% |
|
25.3 |
% |
|
24.9 |
% |
|
83.3 |
% |
|
39.2 |
% |
||||
Operating income (loss) margin |
|
1.1 |
% |
|
-0.4 |
% |
|
0.1 |
% |
|
-56.8 |
% |
|
-13.8 |
% |
||||
Income (loss) from discontinued operations before income taxes as percentage of total revenue |
|
1.2 |
% |
|
-0.4 |
% |
|
0.1 |
% |
|
-162.0 |
% |
|
-39.6 |
% |
||||
Effective tax rate |
|
21.0 |
% |
|
15.4 |
% |
|
71.4 |
% |
|
22.6 |
% |
|
22.5 |
% |
||||
Income (loss) from discontinued operations, net of tax as percentage of total revenue |
|
0.9 |
% |
|
-0.3 |
% |
|
0.0 |
% |
|
-125.4 |
% |
|
-30.7 |
% |
Reconciliation of Adjusted Gross Profit - Discontinued operations | |||||||||||||||||||
Gross profit (GAAP) | $ |
871.2 |
|
$ |
823.2 |
|
$ |
803.3 |
|
$ |
859.9 |
|
$ |
3,357.6 |
|
||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(48.7 |
) |
|
(48.7 |
) |
||||
Adjusted gross profit (Non-GAAP) | $ |
871.2 |
|
$ |
823.2 |
|
$ |
803.3 |
|
$ |
811.2 |
|
$ |
3,308.9 |
|
||||
Adjusted gross profit margin (Non-GAAP) |
|
25.2 |
% |
|
24.9 |
% |
|
24.9 |
% |
|
24.9 |
% |
|
25.0 |
% |
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Discontinued Operations | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Reconciliation of Adjusted Selling, General and Administrative Expenses - Discontinued Operations | |||||||||||||||||||
Selling, general and administrative expenses - GAAP | $ |
835.6 |
|
$ |
838.9 |
|
$ |
803.9 |
|
$ |
2,719.0 |
|
$ |
5,197.4 |
|
||||
Add: Legal reserve |
|
2.5 |
|
|
- |
|
|
- |
|
|
- |
|
|
2.5 |
|
||||
Deduct: Strategic review costs |
|
- |
|
|
(6.2 |
) |
|
(7.1 |
) |
|
(10.3 |
) |
|
(23.6 |
) |
||||
Deduct: Store closure costs |
|
(16.8 |
) |
|
(4.8 |
) |
|
(1.6 |
) |
|
(1.9 |
) |
|
(25.1 |
) |
||||
Deduct: Impairment of intangible assets and goodwill |
|
- |
|
|
- |
|
|
- |
|
|
(1,890.5 |
) |
|
(1,890.5 |
) |
||||
Deduct: Long-lived asset impairments |
|
- |
|
|
- |
|
|
- |
|
|
(79.6 |
) |
|
(79.6 |
) |
||||
Add: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
35.3 |
|
|
35.3 |
|
||||
Adjusted selling, general and administrative expenses (Non-GAAP) |
$ |
821.3 |
|
$ |
827.9 |
|
$ |
795.2 |
|
$ |
772.0 |
|
$ |
3,216.4 |
|
||||
Adjusted selling, general and administrative expense rate |
|
23.7 |
% |
|
25.0 |
% |
|
24.6 |
% |
|
23.6 |
% |
|
24.2 |
% |
||||
Reconciliation of Adjusted Operating Income (Loss) - Discontinued Operations | |||||||||||||||||||
Operating income (loss) (GAAP) | $ |
38.7 |
|
$ |
(12.7 |
) |
$ |
2.7 |
|
$ |
(1,853.5 |
) |
$ |
(1,824.8 |
) |
||||
Gross profit adjustment: | |||||||||||||||||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(48.7 |
) |
|
(48.7 |
) |
||||
SG&A adjustments: | |||||||||||||||||||
Deduct: Legal reserve |
|
(2.5 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(2.5 |
) |
||||
Add: Strategic review costs |
|
- |
|
|
6.2 |
|
|
7.1 |
|
|
10.3 |
|
|
23.6 |
|
||||
Add: Store closure costs |
|
16.8 |
|
|
4.8 |
|
|
1.6 |
|
|
1.9 |
|
|
25.1 |
|
||||
Add: Impairment of intangible assets and goodwill |
|
- |
|
|
- |
|
|
- |
|
|
1,890.5 |
|
|
1,890.5 |
|
||||
Add: Long-lived asset impairments |
|
- |
|
|
- |
|
|
- |
|
|
79.6 |
|
|
79.6 |
|
||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(35.3 |
) |
|
(35.3 |
) |
||||
Adjusted operating income (loss) (Non-GAAP) | $ |
53.0 |
|
$ |
(1.7 |
) |
$ |
11.4 |
|
$ |
44.8 |
|
$ |
107.5 |
|
||||
Adjusted operating income (loss) margin (Non-GAAP) |
|
1.5 |
% |
|
-0.1 |
% |
|
0.4 |
% |
|
1.4 |
% |
|
0.8 |
% |
||||
Reconciliation of Adjusted Income (Loss) from Discontinued Operations, Net of Tax | |||||||||||||||||||
Income (loss) from discontinued operations, net of tax (GAAP) | $ |
32.4 |
|
$ |
(9.9 |
) |
$ |
1.0 |
|
$ |
(4,096.1 |
) |
$ |
(4,072.6 |
) |
||||
Gross profit adjustment: | |||||||||||||||||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
# |
|
- |
|
# |
|
(48.7 |
) |
|
(48.7 |
) |
||
SG&A adjustments: | |||||||||||||||||||
Deduct: Legal reserve |
|
(2.5 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(2.5 |
) |
||||
Add: Strategic review costs |
|
- |
|
|
6.2 |
|
|
7.1 |
|
|
10.3 |
|
|
23.6 |
|
||||
Add: Store closure costs |
|
16.8 |
|
|
4.8 |
|
|
1.6 |
|
|
1.9 |
|
|
25.1 |
|
||||
Add: Impairment of intangible assets and goodwill |
|
- |
|
|
- |
|
|
- |
|
|
1,890.5 |
|
|
1,890.5 |
|
||||
Add: Long-lived asset impairments |
|
- |
|
|
- |
|
|
- |
|
|
79.6 |
|
|
79.6 |
|
||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(35.3 |
) |
|
(35.3 |
) |
||||
Non-operating adjustment: | |||||||||||||||||||
Add: Non-operating held for sale loss |
|
- |
|
|
- |
|
|
- |
|
|
3,438.8 |
|
|
3,438.8 |
|
||||
Provision for income tax adjustments |
|
(3.6 |
) |
# |
|
(3.0 |
) |
|
(2.2 |
) |
|
(1,201.9 |
) |
|
(1,210.7 |
) |
|||
Adjusted income (loss) from discontinued operations, net of tax (Non-GAAP) | $ |
43.1 |
|
$ |
(1.9 |
) |
$ |
7.5 |
|
$ |
39.1 |
|
$ |
87.8 |
|
||||
Adjusted income (loss) from discontinued operations, net of tax as percentage of total revenue (Non-GAAP) |
|
1.2 |
% |
|
-0.1 |
% |
|
0.2 |
% |
|
1.2 |
% |
|
0.7
|
%
|
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Discontinued Operations | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Reconciliation of Adjusted Diluted Earnings (Loss) Per Share - Discontinued Operations | |||||||||||||||||||
Diluted earnings (loss) per share - discontinued operations (GAAP) | $ |
0.15 |
|
$ |
(0.04 |
) |
$ |
0.00 |
|
$ |
(19.03 |
) |
$ |
(18.86 |
) |
||||
Gross profit adjustment: | |||||||||||||||||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(0.23 |
) |
|
(0.23 |
) |
||||
SG&A adjustments: | |||||||||||||||||||
Deduct: Legal reserve |
|
(0.01 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(0.01 |
) |
||||
Add: Strategic review costs |
|
- |
|
|
0.03 |
|
|
0.03 |
|
|
0.05 |
|
|
0.11 |
|
||||
Add: Store closure costs |
|
0.08 |
|
|
0.02 |
|
|
0.01 |
|
|
0.01 |
|
|
0.12 |
|
||||
Add: Impairment of intangible assets and goodwill |
|
- |
|
|
- |
|
|
- |
|
|
8.78 |
|
|
8.76 |
|
||||
Add: Long-lived asset impairments |
|
- |
|
|
- |
|
|
- |
|
|
0.37 |
|
|
0.37 |
|
||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(0.16 |
) |
|
(0.16 |
) |
||||
Non-operating adjustment: | |||||||||||||||||||
Add: Non-operating held for sale loss |
|
- |
|
|
- |
|
|
- |
|
|
15.97 |
|
|
15.93 |
|
||||
Provision for income tax adjustments |
|
(0.02 |
) |
|
(0.01 |
) |
|
(0.01 |
) |
|
(5.58 |
) |
|
(5.61 |
) |
||||
Adjusted diluted earnings (loss) per share - Discontinued Operations (Non-GAAP) | $ |
0.20 |
|
$ |
(0.01 |
) |
$ |
0.03 |
|
$ |
0.18 |
|
$ |
0.41 |
|
Reconciliation of Adjusted Effective Tax Rate | ||||||||||||||
Effective tax rate (GAAP) | 21.0 |
% |
15.4 |
% |
71.4 |
% |
22.6 |
% |
22.5 |
% |
||||
Add/deduct: tax impact of non-GAAP adjustments | 1.0 |
% |
-185.8 |
% |
-32.9 |
% |
-7.2 |
% |
-0.2 |
% |
||||
Consolidated adjusted effective tax rate (non-GAAP) | 22.0 |
% |
-170.4 |
% |
38.5 |
% |
15.4 |
% |
22.3 |
% |
Amounts in tables above may not recalculate due to rounding |
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Consolidated | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Revenues: | |||||||||||||||||||
Net sales | $ |
7,626.4 |
|
$ |
7,372.7 |
|
$ |
7,561.7 |
|
$ |
8,257.1 |
|
$ |
30,817.9 |
|
||||
Other revenue |
|
6.4 |
|
|
6.1 |
|
|
6.5 |
|
|
8.7 |
|
|
27.7 |
|
||||
Total revenue |
|
7,632.8 |
|
|
7,378.8 |
|
|
7,568.2 |
|
|
8,265.8 |
|
|
30,845.6 |
|
||||
Expenses: | |||||||||||||||||||
Cost of sales |
|
5,278.7 |
|
|
5,158.2 |
|
|
5,224.3 |
|
|
5,517.4 |
|
|
21,178.6 |
|
||||
Selling, general and administrative expenses |
|
1,933.5 |
|
|
2,017.5 |
|
|
2,010.5 |
|
|
4,068.3 |
|
|
10,029.8 |
|
||||
Operating income (loss) |
|
420.6 |
|
|
203.1 |
|
|
333.4 |
|
|
(1,319.9 |
) |
|
(362.8 |
) |
||||
Interest expense, net |
|
24.4 |
|
|
28.9 |
|
|
27.5 |
|
|
21.2 |
|
|
102.0 |
|
||||
Other (income) expense, net |
|
0.1 |
|
|
- |
|
|
0.1 |
|
|
(29.3 |
) |
|
(29.1 |
) |
||||
Loss from classification to held for sale |
|
- |
|
|
- |
|
|
- |
|
|
3,438.8 |
|
|
3,438.8 |
|
||||
Income (loss) before income taxes |
|
396.1 |
|
|
174.2 |
|
|
305.8 |
|
|
(4,750.6 |
) |
|
(3,874.5 |
) |
||||
Provision for income taxes |
|
96.0 |
|
|
41.8 |
|
|
72.5 |
|
|
(1,054.7 |
) |
|
(844.4 |
) |
||||
Net income (loss) | $ |
300.1 |
|
$ |
132.4 |
|
$ |
233.3 |
|
$ |
(3,695.9 |
) |
$ |
(3,030.1 |
) |
||||
Basic earnings (loss) per share: | |||||||||||||||||||
Total basic earnings (loss) per share | $ |
1.38 |
|
$ |
0.62 |
|
$ |
1.09 |
|
$ |
(17.18 |
) |
$ |
(14.05 |
) |
||||
Weighted average number of shares |
|
217.8 |
|
|
215.0 |
|
|
215.0 |
|
|
215.1 |
|
|
215.7 |
|
||||
Diluted earnings (loss) per share: | |||||||||||||||||||
Total diluted earnings (loss) per share | $ |
1.38 |
|
$ |
0.62 |
|
$ |
1.08 |
|
$ |
(17.17 |
) |
$ |
(14.03 |
) |
||||
Weighted average number of shares |
|
218.1 |
|
|
215.2 |
|
|
215.2 |
|
|
215.3 |
|
|
215.9 |
|
||||
Gross profit margin |
|
30.8 |
% |
|
30.0 |
% |
|
30.9 |
% |
|
33.2 |
% |
|
31.3 |
% |
||||
Selling, general and administrative expense rate |
|
25.3 |
% |
|
27.3 |
% |
|
26.6 |
% |
|
49.2 |
% |
|
32.5 |
% |
||||
Operating income (loss) margin |
|
5.5 |
% |
|
2.8 |
% |
|
4.4 |
% |
|
-16.0 |
% |
|
-1.2 |
% |
||||
Income (loss) before income taxes as percentage of total revenue |
|
5.2 |
% |
|
2.4 |
% |
|
4.0 |
% |
|
-57.5 |
% |
|
-12.6 |
% |
||||
Effective tax rate |
|
24.2 |
% |
|
24.0 |
% |
|
23.7 |
% |
|
22.2 |
% |
|
21.8 |
% |
||||
Net income (loss) margin |
|
3.9 |
% |
|
1.8 |
% |
|
3.1 |
% |
|
-44.7 |
% |
|
-9.8 |
% |
Reconciliation of Adjusted Gross Profit - Consolidated | |||||||||||||||||||
Gross profit (GAAP) | $ |
2,347.7 |
|
$ |
2,214.5 |
|
$ |
2,337.4 |
|
$ |
2,739.7 |
|
$ |
9,639.3 |
|
||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(48.7 |
) |
|
(48.7 |
) |
||||
Adjusted gross profit (Non-GAAP) |
|
2,347.7 |
|
|
2,214.5 |
|
|
2,337.4 |
|
|
2,691.0 |
|
|
9,590.6 |
|
||||
Adjusted gross profit margin (Non-GAAP) |
|
30.8 |
% |
|
30.0 |
% |
|
30.9 |
% |
|
32.6 |
% |
|
31.1 |
% |
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Consolidated | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Reconciliation of Adjusted Selling, General and Administrative Expenses - Consolidated | |||||||||||||||||||
Selling, general and administrative expenses - GAAP | $ |
1,933.5 |
|
$ |
2,017.5 |
|
$ |
2,010.5 |
|
$ |
4,068.3 |
|
$ |
10,029.8 |
|
||||
Deduct: Strategic review costs |
|
- |
|
|
(6.2 |
) |
|
(8.3 |
) |
|
(19.4 |
) |
|
(33.9 |
) |
||||
Add/Deduct: Severance |
|
- |
|
|
(2.2 |
) |
|
- |
|
|
0.2 |
|
|
(2.0 |
) |
||||
Deduct: Store closure costs |
|
(17.5 |
) |
|
(6.6 |
) |
|
(1.5 |
) |
|
(1.8 |
) |
|
(27.4 |
) |
||||
Deduct: Software impairments and termination costs |
|
- |
|
|
- |
|
|
- |
|
|
(58.3 |
) |
|
(58.3 |
) |
||||
Deduct: Stock option acceleration cost |
|
- |
|
|
- |
|
|
- |
|
|
(27.1 |
) |
|
(27.1 |
) |
||||
Add: Legal reserve |
|
2.5 |
|
|
- |
|
|
- |
|
|
- |
|
|
2.5 |
|
||||
Deduct: Impairment of intangible assets and goodwill |
|
- |
|
|
- |
|
|
- |
|
|
(1,890.5 |
) |
|
(1,890.5 |
) |
||||
Deduct: Long-lived asset impairments |
|
- |
|
|
- |
|
|
- |
|
|
(79.6 |
) |
|
(79.6 |
) |
||||
Add: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
35.3 |
|
|
35.3 |
|
||||
Adjusted selling, general and administrative expenses (Non-GAAP) |
$ |
1,918.5 |
|
$ |
2,002.5 |
|
$ |
2,000.7 |
|
$ |
2,027.1 |
|
$ |
7,948.8 |
|
||||
Adjusted selling, general and administrative expense rate |
|
25.1 |
% |
|
27.1 |
% |
|
26.4 |
% |
|
24.5 |
% |
|
25.8 |
% |
Reconciliation of Adjusted Operating Income (Loss) - Consolidated | |||||||||||||||||||
Operating income (loss) (GAAP) | $ |
420.6 |
|
$ |
203.1 |
|
$ |
333.4 |
|
$ |
(1,319.9 |
) |
$ |
(362.8 |
) |
||||
Gross profit adjustment: | |||||||||||||||||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(48.7 |
) |
|
(48.7 |
) |
||||
SG&A adjustments: | |||||||||||||||||||
Add: Strategic review costs |
|
- |
|
|
6.2 |
|
|
8.3 |
|
|
19.4 |
|
|
33.9 |
|
||||
Add/Deduct: Severance |
|
- |
|
|
2.2 |
|
|
- |
|
|
(0.2 |
) |
|
2.0 |
|
||||
Add: Store closure costs |
|
17.5 |
|
|
6.6 |
|
|
1.5 |
|
|
1.8 |
|
|
27.4 |
|
||||
Add: Software impairments and termination costs |
|
- |
|
|
- |
|
|
- |
|
|
58.3 |
|
|
58.3 |
|
||||
Add: Stock option acceleration cost |
|
- |
|
|
- |
|
|
- |
|
|
27.1 |
|
|
27.1 |
|
||||
Deduct: Legal reserve |
|
(2.5 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(2.5 |
) |
||||
Add: Impairment of intangible assets and goodwill |
|
- |
|
|
- |
|
|
- |
|
|
1,890.5 |
|
|
1,890.5 |
|
||||
Add: Long-lived asset impairments |
|
- |
|
|
- |
|
|
- |
|
|
79.6 |
|
|
79.6 |
|
||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(35.3 |
) |
|
(35.3 |
) |
||||
Adjusted operating income (Non-GAAP) | $ |
435.6 |
|
$ |
218.1 |
|
$ |
343.2 |
|
$ |
672.6 |
|
$ |
1,669.5 |
|||||
Adjusted operating income margin (Non-GAAP) | 5.7 |
% |
3.0 |
% |
4.5 |
% |
8.1 |
% |
5.4 |
% |
DOLLAR TREE, INC. | |||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | |||||||||||||||||||
Consolidated | |||||||||||||||||||
(In millions) | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
13 Weeks Ended | 52 Weeks Ended |
||||||||||||||||||
May 4, 2024 |
August 3, 2024 |
November 2, 2024 |
February 1, 2025 |
February 1, 2025 |
|||||||||||||||
Reconciliation of Adjusted Net Income | |||||||||||||||||||
Net income (loss) (GAAP) | $ |
300.1 |
|
$ |
132.4 |
|
$ |
233.3 |
|
$ |
(3,695.9 |
) |
$ |
(3,030.1 |
) |
||||
Gross profit adjustment: | |||||||||||||||||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(48.7 |
) |
|
(48.7 |
) |
||||
SG&A adjustments: | |||||||||||||||||||
Add: Strategic review costs |
|
- |
|
|
6.2 |
|
|
8.3 |
|
|
19.4 |
|
|
33.9 |
|
||||
Add/Deduct: Severance |
|
- |
|
|
2.2 |
|
|
- |
|
|
(0.2 |
) |
|
2.0 |
|
||||
Add: Store closure costs |
|
17.5 |
|
|
6.6 |
|
|
1.5 |
|
|
1.8 |
|
|
27.4 |
|
||||
Add: Software impairments and termination costs |
|
- |
|
|
- |
|
|
- |
|
|
58.3 |
|
|
58.3 |
|
||||
Add: Stock option acceleration cost |
|
- |
|
|
- |
|
|
- |
|
|
27.1 |
|
|
27.1 |
|
||||
Deduct: Legal reserve |
|
(2.5 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(2.5 |
) |
||||
Add: Impairment of intangible assets and goodwill |
|
- |
|
|
- |
|
|
- |
|
|
1,890.5 |
|
|
1,890.5 |
|
||||
Add: Long-lived asset impairments |
|
- |
|
|
- |
|
|
- |
|
|
79.6 |
|
|
79.6 |
|
||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(35.3 |
) |
|
(35.3 |
) |
||||
Non-operating adjustment: | |||||||||||||||||||
Deduct: Non-operating insurance gain |
|
- |
|
|
- |
|
|
- |
|
|
(29.7 |
) |
|
(29.7 |
) |
||||
Add: Non-operating held for sale loss |
|
- |
|
|
- |
|
|
- |
|
|
3,438.8 |
|
|
3,438.8 |
|
||||
Provision for income tax adjustments |
|
(3.6 |
) |
|
(4.0 |
) |
|
(2.5 |
) |
|
(1,211.8 |
) |
|
(1,221.8 |
) |
||||
Adjusted net income (Non-GAAP) | $ |
311.5 |
|
$ |
143.4 |
|
$ |
240.6 |
|
$ |
493.9 |
|
$ |
1,189.5 |
|
||||
Adjusted net income margin (Non-GAAP) |
|
4.1 |
% |
|
1.9 |
% |
|
3.2 |
% |
|
6.0 |
% |
|
3.9 |
% |
Reconciliation of Adjusted Diluted Earnings Per Share - Consolidated | |||||||||||||||||||
Diluted net earnings (loss) per share - consolidated (GAAP) | $ |
1.38 |
|
$ |
0.62 |
|
$ |
1.08 |
|
$ |
(17.17 |
) |
$ |
(14.03 |
) |
||||
Gross profit adjustment: | |||||||||||||||||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(0.23 |
) |
|
(0.23 |
) |
||||
SG&A adjustments: | |||||||||||||||||||
Add: Strategic review costs |
|
- |
|
|
0.03 |
|
|
0.04 |
|
|
0.09 |
|
|
0.16 |
|
||||
Add/Deduct: Severance |
|
- |
|
|
0.01 |
|
|
- |
|
|
(0.00 |
) |
|
0.01 |
|
||||
Add: Store closure costs |
|
0.08 |
|
|
0.03 |
|
|
0.01 |
|
|
0.01 |
|
|
0.13 |
|
||||
Add: Software impairments and termination costs |
|
- |
|
|
- |
|
|
- |
|
|
0.27 |
|
|
0.27 |
|
||||
Add: Stock option acceleration cost |
|
- |
|
|
- |
|
|
- |
|
|
0.13 |
|
|
0.13 |
|
||||
Deduct: Legal reserve |
|
(0.01 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(0.01 |
) |
||||
Add: Impairment of intangible assets and goodwill |
|
- |
|
|
- |
|
|
- |
|
|
8.78 |
|
|
8.76 |
|
||||
Add: Long-lived asset impairments |
|
- |
|
|
- |
|
|
- |
|
|
0.37 |
|
|
0.37 |
|
||||
Deduct: Held for sale - depreciation / amortization |
|
- |
|
|
- |
|
|
- |
|
|
(0.16 |
) |
|
(0.16 |
) |
||||
Non-operating adjustment: |
|
- |
|
||||||||||||||||
Deduct: Non-operating insurance gain |
|
- |
|
|
- |
|
|
- |
|
|
(0.14 |
) |
|
(0.14 |
) |
||||
Add: Non-operating held for sale loss |
|
- |
|
|
- |
|
|
- |
|
|
15.97 |
|
|
15.93 |
|
||||
Provision for income tax adjustments |
|
(0.02 |
) |
|
(0.02 |
) |
|
(0.01 |
) |
|
(5.63 |
) |
|
(5.66 |
) |
||||
Adjusted diluted net earnings per share - consolidated (Non-GAAP) | $ |
1.43 |
|
$ |
0.67 |
|
$ |
1.12 |
|
$ |
2.29 |
|
$ |
5.51 |
|
Reconciliation of Adjusted Effective Tax Rate | ||||||||||||||
Effective tax rate (GAAP) | 24.2 |
% |
24.0 |
% |
23.7 |
% |
22.2 |
% |
21.8 |
% |
||||
Add/deduct: tax impact of non-GAAP adjustments | 0.0 |
% |
0.2 |
% |
0.1 |
% |
1.9 |
% |
2.3 |
% |
||||
Consolidated adjusted effective tax rate (non-GAAP) | 24.2 |
% |
24.2 |
% |
23.8 |
% |
24.1 |
% |
24.1 |
% |
Amounts in tables above may not recalculate due to rounding |
DOLLAR TREE, INC. | ||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | ||||||||||||||||
(In millions, except per share data) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
Reconciliation of Net Cash Provided by (Used in) Operating Activities of Continuing Operations to Free Cash Flow from Continuing Operations | 13 Weeks Ended | 14 Weeks Ended | 52 Weeks Ended | 53 Weeks Ended | ||||||||||||
February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | |||||||||||||
Net cash provided by operating activities of continuing operations (GAAP) | $ |
857.6 |
|
$ |
1,190.6 |
|
$ |
2,193.3 |
|
$ |
2,400.8 |
|
||||
Deduct: | ||||||||||||||||
Capital expenditures of continuing operations |
|
(294.8 |
) |
|
(482.8 |
) |
|
(1,300.5 |
) |
|
(1,193.8 |
) |
||||
Free cash flow from continuing operations (Non-GAAP) | $ |
562.8 |
|
$ |
707.8 |
|
$ |
892.8 |
|
$ |
1,207.0 |
|
||||
Net cash used in investing activities of continuing operations (GAAP) (d) | $ |
(287.9 |
) |
$ |
(483.0 |
) |
$ |
(1,249.4 |
) |
$ |
(1,194.8 |
) |
||||
Net cash provided by (used in) financing activities (GAAP) | $ |
1.6 |
|
$ |
(228.1 |
) |
$ |
(411.3 |
) |
$ |
(530.0 |
) |
(d) |
Net cash provided by (used in) investing activities includes capital expenditures, which is included in our computation of free cash flow |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250326345086/en/
Dollar Tree, Inc.
Robert A. LaFleur, 757-991-5645
Senior Vice President, Investor Relations
www.DollarTree.com
DLTR-E
Source: Dollar Tree, Inc.