Dollar Tree 2013 Annual Report Download - page 4

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“W      D T” If that sounds familiar, it
should. I opened our annual letter to shareholders with those same words
back in 2008. It was true then and it is true now. For perspective, in 2008,
our sales were $4.6 billion, diluted earnings per share, adjusted for stock
splits, were $0.84 and operating income was $366 million – all of which
were records.
Dollar Tree has come a long way since then and I am pleased to report
that 2013 was yet another year of record results.
X
Net sales increased to $7.8 billion, an all-time record.
X
Comparable-store sales increased 2.4% on top of a 3.4% comparable
store sales increase in the prior year.
X
Earnings increased to a record $2.72 per diluted share.
X
Operating income increased to a record $970 million, operating margin
was 12.4% and the Company achieved 31.3% return on invested capital.
X
And, we ended fiscal 2013 with more than 87,000 associates, an
increase of more than 41,000 jobs in five years.
In addition, during 2013:
X
Dollar Tree opened 343 new stores, expanded or relocated 71 stores,
increased selling square footage by 6.9% and ended the year with
4,992 stores. We surpassed the 5,000 store milestone in February 2014.
X
We added frozen and refrigerated capability to 608 stores, including
208 new stores, and now offer these products in more than
3,000 stores.
X
e Company opened a new, 1,001,000 square foot, fully automated
Distribution Center in Windsor, CT, ahead of schedule and
under budget while expanding capacity at two other DC’s – in
San Bernardino, CA and Marietta, OK.
X
And, we invested more than $1.1 billion for share repurchases while
ending the year with more than $267 million of cash and cash
equivalents on the balance sheet.
Our success is, and always has been, based on our focus on the customer.
We have a unique concept that customers love: everything is $1.00, or less,
every day at every Dollar Tree store in the U.S.A.! We are vigilant about
understanding what our customers need and we do our best to provide it to
them. Our goal is to “Wow” every customer at every store, every day. Our stores
are convenient, bright, clean, fun, friendly and filled with great merchandise at
surprising values.
Our merchandising model is powerful and flexible. Our assortments are
planned to offer the greatest value to the customer for $1 and to do so at a
cost that delivers our desired merchandise margin. We use this strategy of
Our success is, and
always has been,
based on our focus
on the customer. We
have a unique concept
that customers love:
everything is $1.00,
or less, every day at
every Dollar Tree
store in the U.S.A.!
2 Dollar Tree, Inc.
To Our Shareholders
“
”
Bob Sasser Chief Executive Ocer