Dollar Tree 2014 Annual Report Download - page 4

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THE FUTURE OF DOLLAR TREE HAS NEVER
BEEN BRIGHTER! With a keen focus on meeting
the ever-changing needs of the customer, our
concept remains increasingly relevant. We
serve an extremely loyal and growing customer base as
demonstrated by continued momentum in our business
throughout the year, and I am pleased to say that 2014 was
another year of record sales and earnings. But that’s not all.
Additionally, we announced a transformational acquisition
that will create a combined organization more than double
our current store count and revenue.
2014 was a Record Year
Our record results in 2014 included:
• Net sales increasing 9.7% to $8.6 billion.
• Same-store sales, on a constant-currency basis,
increasing 4.4% on top of a 2.4% same-store sales
increase in the prior year.
• Earnings increasing to a record $2.90 per diluted
share. Excluding acquisition-related costs, EPS grew
14.7% to $3.12 per diluted share.
• Operating income improving to a record
$1.04 billion.
• Operating margin, excluding acquisition-related
costs, was a sector-leading 12.4%.
• And, we ended the year with more than 90,000
associates across 48 states and ve Canadian
provinces.
Additionally, in 2014:
• We opened 391 new stores and expanded or
relocated 72 stores, increasing selling square footage
by 7.4%. We surpassed the 5,000 store milestone in
February 2014, and ended the year with 5,367 stores.
• We added frozen and refrigerated capability to 473
stores, including 330 new stores, and now oer
these products in more than 3,600 stores.
• For the rst time in Company history, we exceeded
one billion customer transactions in a year.
• And, on July 28, we announced our agreement to
acquire Family Dollar Stores.
Track Record of Success
Over the past 29 years, Dollar Tree has evolved from a small,
regional mall-based retailer to a national leader in the
discount retail sector. We serve a broad range of income
levels through primarily suburban locations, and we are
becoming a destination of choice for a growing base of
customers seeking great values for both their needs
and wants.
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 every day at Dollar
Tree stores. We are vigilant about understanding what our
customers need, and we do our best to provide it to them.
We strive to “Wow” every customer at every store, every day.
Bob Sasser, Chief Executive Ocer
Dollar Tree Annual Report 2014
2
To Our
Shareholders:
new stores
opened in 2014
consecutive quarters of
positive same-store sales
28 391