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Our outlook reflects continued margin pressures that we expect to persist through the back half of the year.
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2023 Q2
15 Sep 23
For the full fiscal year, which includes a 53rd week this year, we are raising our 2023 sales expectations to a range of $30.6 billion to $30.9
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2023 Q2
15 Sep 23
In July, we established a new commercial paper program to issue unsecured notes with maturities up to 397 days, with an aggregate face amount outstanding at any time of $1.5 billion.
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2023 Q2
15 Sep 23
In the second quarter, we repurchased approximately 700,000 shares for $99.9 million, including applicable excise tax. At quarter-end, we had $1.6 billion remaining under our share repurchase authorization.
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2023 Q2
15 Sep 23
For fiscal 2023, we expect capital expenditures will total approximately $2 billion, with approximately 40% allocated towards maintenance CapEx and the balance towards growth initiatives.
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2023 Q2
15 Sep 23
Capital expenditures were $425.4 million in the second quarter versus $276.2 million last year, reflecting elevated investment levels in new store openings and renovations, supply chain and information systems
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2023 Q2
15 Sep 23
While inventory was below last year's level, is elevated due to early receipt of imports. With a rapid recovery across our supply chain, seasonal imports from Asia arrived well ahead of our scheduled third quarter receipts.
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2023 Q2
15 Sep 23
On a consolidated level, operating income declined 43.1% to $287.8 million and operating margin compressed by 360 basis points. This was driven by a 220 basis point decrease in gross margin and a 130 basis point increase in SG&A expenses. Gross margin contracted primarily from lower merchandise margin as we lapped the margin benefit from last year's $1.25 rollout and from unfavorable sales mix, product cost inflation, and elevated shrink. SG&A expenses expanded primarily from wage investments, incentive compensation, general liability claims, and repairs and maintenance costs from improving store conditions. These were partially offset by leverage from increased comp sales and lower stock-compensation expense. Notably, the impact of general liability claims was $0.07 for the quarter.
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2023 Q2
15 Sep 23
we had a significant number of stores that don't open on time or close early due to staffing shortages. I'm happy to report that we saw a measurable improvement in this area during the second quarter at both Dollar Tree and Family Dollar. If we eliminated all late openings and early closings, it could add 1.5 points to our overall comp.
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2023 Q2
15 Sep 23
We opened or converted 90 Family Dollar stores under our rural combo format. Overall, we are on track to complete at least 1,000 Family Dollar renovations by year-end.
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2023 Q2
15 Sep 23
Importantly, our research tells us that a very high percentage of these new customers come back visiting an average of five times in the year following their initial trip.
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2023 Q2
15 Sep 23
New customers are the lifeblood of retail and are critical part of driving traffic and market share. In the past year, we have added nearly 5 million new customers across both segments, with 2.6 million of these customers having a household income over $125,000.
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2023 Q2
15 Sep 23
The improvement was driven by higher initial mark-on, lower freight cost and leverage on occupancy, partially offset by mix, markdowns, shrink and higher distribution costs.
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2022 Q4
4 Jun 23
The Dollar Tree segment gross margin improved 110 basis points, primarily from higher initial mark-on, lower freight cost and sales leverage, partially offset by product mix, product cost inflation and higher costs for markdowns, shrink and distribution.
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2022 Q4
4 Jun 23
across both banners, they are averaging about 3 million net new customers over a trailing 12-month period, so you are seeing that customer, new customer coming to us
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2023 Q1
4 Jun 23
That consumer is more wrapped up in the consumable business.
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2023 Q1
4 Jun 23
We’re actually seeing new customers.
Our core customer is coming more frequently.
Now, when they come, they don’t spend any more but they come more often, and now what we’re seeing is the trade down in that $80,000 income range
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2023 Q1
4 Jun 23
We continue to see full year earnings benefits of $1 per share from lower ocean freight costs this year which could be significantly weighted towards the back half of the year, and an additional $1 per share benefit in 2024 and beyond.
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2023 Q1
4 Jun 23
Family Dollar’s gross margin decreased by approximately 100 basis points with largely the same factors contributing to the decline as Dollar Tree.
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2023 Q1
4 Jun 23
The impact of higher cost of goods and unfavorable sales mix were partially offset by lower freight costs and markdowns as we cycled the impact of our West Memphis DC closure last year.
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2023 Q1
4 Jun 23