Dollar Tree 2014 Annual Report Download - page 41

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25
As of
January 31,
2015
February 1,
2014
February 2,
2013
January 28,
2012
January 29,
2011
Balance Sheet Data:
Cash and cash equivalents
and short-term investments $ 864.1 $ 267.7 $ 399.9 $ 288.3 $ 486.0
Working capital 1,133.0 692.2 797.3 628.4 800.4
Total assets 3,567.0 2,771.9 2,752.0 2,328.6 2,380.5
Total debt, including capital lease obligations 757.0 769.8 271.3 265.8 267.8
Shareholders' equity 1,785.0 1,170.7 1,667.3 1,344.6 1,459.0
Year Ended
January 31,
2015
February 1,
2014
February 2,
2013
January 28,
2012
January 29,
2011
Selected Operating Data:
Number of stores open at end of period 5,367 4,992 4,671 4,351 4,101
Gross square footage at end of period 58.3 54.3 50.9 47.4 44.4
Selling square footage at end of period 46.5 43.2 40.5 37.6 35.1
Selling square footage annual growth 7.4% 6.9% 7.7% 6.9% 8.8%
Net sales annual growth 9.7% 6.0% 11.5% 12.7% 12.4%
Comparable store net sales increase 4.3% 2.4% 3.4% 6.0% 6.3%
Net sales per selling square foot $ 192 $ 187 $ 190 $ 182 $ 174
Net sales per store $ 1.7 $ 1.6 $ 1.6 $ 1.6 $ 1.5
Selected Financial Ratios:
Return on assets 18.9% 21.6% 24.4% 20.7% 17.0%
Return on equity 40.5% 42.1% 41.1% 34.8% 27.5%
Inventory turns 4.4 4.1 4.3 4.2 4.2
Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
In Management’s Discussion and Analysis, we explain the general financial condition and the results of operations for our
company, including:
• what factors affect our business;
• what our net sales, earnings, gross margins and costs were in 2014, 2013 and 2012;
• why those net sales, earnings, gross margins and costs were different from the year before;
• how all of this affects our overall financial condition;
• what our expenditures for capital projects were in 2014 and 2013 and what we expect them to be in 2015; and
• where funds will come from to pay for future expenditures.
As you read Management’s Discussion and Analysis, please refer to our consolidated financial statements, included in Item
8 of this Form 10-K, which present the results of operations for the fiscal years ended January 31, 2015, February 1, 2014 and
February 2, 2013. In Management’s Discussion and Analysis, we analyze and explain the annual changes in some specific line
items in the consolidated financial statements for fiscal year 2014 compared to fiscal year 2013 and for fiscal year 2013
compared to fiscal year 2012. Unless otherwise indicated, references to "we," "our" or "Dollar Tree" refer to Dollar Tree, Inc.
and its direct and indirect subsidiaries on a consolidated basis and do not give effect to the proposed acquisition of Family
Dollar Stores, Inc.