True Value 2007 Annual Report Download - page 5

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GROWING OUR BUSINESS AND PEOPLE
Over the next three years, the co-op is committed to adding more
than 1.5 million square feet of retail space and $180 million of retail
sales. In 2007 we added 108 new stores in the United States. Our
international business also grew with a handled increase of 13 per-
cent out of warehouse. Twelve existing international members
opened new stores, another four members completed major expan-
sions or remodels and three new members joined the co-op.
We’re not increasing our footprint simply to grow larger, though – we
want to grow better. This means continuing to focus on growth in size,
retail sales, revenues and product assortments – all at the same time.
An ongoing commitment to training and associate development
is the linchpin of our collective success. We must ensure we
continue to deliver to our retailers – and they, in turn, deliver to
their customers – the superior service, trustworthiness and quality
products they’ve come to expect from True Value.
Going forward, we need to make it easy and profi table for True
Value retailers to choose and implement the right solutions.
To do this, our 2008 priorities will be to:
> Help our members grow their comp store sales
> Increase investment in advertising to strengthen the
True Value brand
> Achieve target fi ll rates
> Reach new store square footage goals
> Enhance the customer shopping experience to attract new
customers and increase purchases from existing customers
> Continue to grow our associate talent
> Help our members adopt Destination True Value Retail Principles.
Working as a team, let’s build on the current momentum and grow
your business in 2008. As always, thank you for your business.
Sincerely,
Brian A. Webb Lyle G. Heidemann
Chairman President and Chief Executive Offi cer
NET REVENUE NET MARGIN MEMBERS’ EQUITY
2004
$2,000
$2,020
$2,040
$2,060
$2,080
$2,024
$2,043 $2,050
$2,041
2005 2006 2007 2004
$10
$30
$50
$70
$90
$43.2 $47.6
$72.8
$63.8
2005 2006 2007 2004
$0
$40
$80
$120
$160
$28.2
$59.0
$102.7
$132.7
2005 2006 2007
TOTAL DEBT
2004
$50
$100
$150
$200
$250
$170.3
$194.1
$144.5
$127.4
2005 2006 2007
SELECTED FINANCIAL
DATA ($ IN MILLIONS)
As of and for the Fiscal Year Ended