Hot Features
Premium
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
Dollar Tree Inc. (NASDAQ:DLTR), the North American operator of discount variety stores, has reported 2013 Q2 consolidated net sales for the second quarter were $1.85 billion, an 8.8% increase compared to $1.70 billion reported for the same period in 2012.
Comparable store sales increased 3.7%, on top of a 4.5% increase.
Earnings per diluted share for the second quarter were $0.56, an increase of 9.8% compared to the $0.51 earnings per diluted share reported for the quarter ended July 28, 2012. Operating margin increased 10 basis points for the quarter to 10.9%.
“I am pleased with our second quarter performance,” said Chief Executive Officer Bob Sasser. “Sales, customer traffic, average ticket, earnings and operating margin all continue to grow. Customers are responding in record numbers to our outstanding values in both discretionary and consumable merchandise categories. Our stores are well-stocked with a terrific merchandise presentation for back- to- school and the fall selling season.”
Cash and cash equivalents at quarter-end totaled approximately $413.7 million, compared with $379.8 million at the end of the second quarter 2012. During the second quarter, the Company repurchased 0.9 million shares for $43.7 million. Dollar Tree alos possess $747.7 million remaining on its share repurchase authorization.
In a statement the company said that during “the second quarter, Dollar Tree opened 81 stores, expanded or relocated 32 stores, and closed 2 stores. Retail selling square footage increased 7.0% compared to a year ago, to 41.9 million square feet”.
26-Week Period Results:
- Year-to-date through August 3, 2013, the company’s consolidated net sales were $3.72 billion, an 8.5% increase compared with the first half of 2012. Comparable store sales increased 2.8%, on top of a 5.1% comparable store sales increase in the first half last year.
- First half 2013 earnings per share were $1.15, an increase of 13.9% compared with earnings per share of $1.01 in the first half 2012.
- Operating margin in the first half 2013 was 11.2%, an increase of 30 basis points from operating margin of 10.9% in the first half 2012.
