Dollar Tree 2012 Annual Report Download - page 7

Infrastructure to Support Growth
We have built a solid and scalable logistics infrastructure to support our retail footprint across North America. As has
been our practice, we continue to add capacity strategically to support our growth ahead of the need, to support sustained,
profitable growth in the years ahead.
In 2012, we broke ground on a new, one million square foot Distribution Center in Windsor, Connecticut. is new
facility is scheduled to open in mid-2013. Automated for efficiency, the new Distribution Center is designed to increase
capacity and provide cost effective service to our stores as we continue to expand in the Northeast.
Additionally, in January 2013, we announced plans to expand our Distribution Center in Marietta, Oklahoma by
400,000 square feet, bringing its total size to one million square feet. Both the Marietta expansion and the new Windsor
Distribution Center are being financed through available cash, and both are scheduled to be operational in the third quarter
this year. But that’s not all. We are also expanding in the Southwest in 2013 by leasing 350,000 square feet of capacity to
augment our company-owned Distribution Center in San Bernardino, California.
Corporate Governance and Shareholder Value
Dollar Tree has a long-standing commitment to responsible corporate governance and to building value for our long-
term shareholders.
Our Board of Directors is active, involved, and committed to responsible corporate governance. e majority of the
Board is comprised of independent directors; we have a lead independent director and all of the standing committees of
the Board consist entirely of independent directors. e Board regularly reviews the Company’s governance practices and
has made several changes in recent years. We maintain an open dialogue with shareholders on governance matters, and we
continue to increase our understanding of industry standards in corporate governance as they evolve.
Above all, we believe in strict adherence to our core values of honesty, integrity and transparency in all aspects of
our business. ese values are reflected in the strength of our financial controls and in our relationships with customers,
suppliers, associates and our shareholders.
For 2012, we once again earned a “clean bill of health” with no material weakness noted in our assessment of controls
supporting the accounting and reporting processes in compliance with the requirements of Sarbanes-Oxley legislation. In
2013, as I have stated in previous years, you can be assured that we will continue to operate Dollar Tree with an unwavering
commitment to financial integrity and the related financial controls as a foundation for building long-term shareholder value.
Dollar Tree has consistently generated significant cash flow and has been a prudent manager of capital for the benefit of
long-term shareholders. e best use of capital, in our view, is to support continued growth of the business at a sustainable
pace. Beyond this, we have long believed that share repurchase is an effective use of excess free cash to create additional
value for shareholders over the long-term. In 2012, we repurchased 7.7 million shares for $340.2 million. Altogether, since
2004, the Company has invested more than $2.5 billion for share repurchase without increasing long-term debt.
People – The Heart of our Success
None of our goals can be achieved without the collaborative efforts of our 81,000 dedicated associates, who are working
hard to deliver value to our customers every day. ey are the human element behind each sale. Every day, Dollar Tree
Associates throughout the organization give of themselves to make sure that each customer is pleased with the shopping
experience and that they leave the store with the intent to return and shop with us again and again. eir efforts and
creativity are the keys to the Company’s success and growth. Dollar Tree’s success is measured by the success of our people.
Dollar Tree Associates can take pride in the fact that 2012 was another year of great accomplishment for our Company.
Looking ahead, we are positioned to do even better. Our Company is strong and growing. We stand as a benchmark of
value for our customers’ basic variety store needs and wants. Our attention is focused on managing growth profitably and
efficiently as we constantly search for more and better ways to serve our customers and add value for our shareholders.
Bob Sasser
President and Chief Executive Officer
2012 Annual Report 5