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we successfully completed the conversion to a primary price point of a $1.25 across the chain, credit to our teams. This project was announced in September of 2021 and was completed by the end of February with minimal disruption.
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Transcript
2022 Q1
26 Aug 22
During the quarter, the Dollar Tree team successfully completed its conversion to the $1.25 price point, contributing to both sales and margin improvements. Shoppers are responding favorably as the new greater value products hit our shelves.
Importantly, other key strategic initiatives, including the expansion of the $3 and $5 plus assortment in our Dollar Tree stores, as well as our Combo Stores and H2 Renovations at Family Dollar are all working.
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2022 Q1
26 Aug 22
Dollar Tree gross margins are expanding, and we can use that expansion to fund investments at Family Dollar.
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2022 Q2
26 Aug 22
one of our largest categories. That really has a halo effect over party
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2022 Q2
26 Aug 22
Not one of them brought up price, not one of them brought up the $1.25.
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2022 Q2
26 Aug 22
We did some in-depth customer research
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2022 Q2
26 Aug 22
I will owe you that number probably up in the spring when we have our Investor Day
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2022 Q2
26 Aug 22
For this year, as far as we can see with the dynamic markets going on, it is embedded in our forecast.
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2022 Q2
26 Aug 22
No, not right now
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2022 Q1
26 Aug 22
there's no way to necessarily bracket or give a general view in terms of how much incremental investment or operating costs might be required?
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2022 Q1
26 Aug 22
there will be payroll investments going forward.
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2022 Q2
26 Aug 22
we broke the $1 to $1.25 and we were enhancing that with $3 and $5 assortments.
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2022 Q1
26 Aug 22
etail transformations almost always take longer and cost more than us on the outside tend to anticipate.
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2022 Q1
26 Aug 22
last quarter, when I asked about that, your comment was that for the investments for ‘22, it was all embedded in your outlook.
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2022 Q2
26 Aug 22
we do have a lot of new customers coming into both banners over last year. And the majority of them are at a household income of $80,000 or higher.
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2022 Q2
26 Aug 22
We’re seeing them even go without softener -- liquid softener and detergents, they’re just choosing not to have softener
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2022 Q2
26 Aug 22
We see them moving from liquid to powder detergent.
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2022 Q2
26 Aug 22
private brands have outpaced national brands for 24 weeks in a row now, 24 weeks in a row.
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2022 Q2
26 Aug 22
We also see a huge shift from cash into credit
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2022 Q2
26 Aug 22
The transactions were up at Walmart, Target and warehouse clubs. And I was just curious why the transactions are so much stronger versus being down at Family Dollar and Dollar Tree
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Transcript
2022 Q2
26 Aug 22