Cover Page
Cover Page - shares | 6 Months Ended | |
Jul. 29, 2023 | Aug. 22, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jul. 29, 2023 | |
Document Transition Report | false | |
Entity File Number | 0-25464 | |
Entity Registrant Name | DOLLAR TREE, INC. | |
Entity Incorporation, State or Country Code | VA | |
Entity Tax Identification Number | 26-2018846 | |
Entity Address, Address Line One | 500 Volvo Parkway | |
Entity Address, City or Town | Chesapeake, | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23320 | |
City Area Code | 757 | |
Local Phone Number | 321-5000 | |
Title of 12(b) Security | Common Stock, par value $.01 per share | |
Trading Symbol | DLTR | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 220,005,537 | |
Entity Central Index Key | 0000935703 | |
Current Fiscal Year End Date | --02-03 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
CONDENSED CONSOLIDATED INCOME S
CONDENSED CONSOLIDATED INCOME STATEMENTS - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2023 | Jul. 30, 2022 | Jul. 29, 2023 | Jul. 30, 2022 | |
Income Statement [Abstract] | ||||
Net sales | $ 7,320.1 | $ 6,765.3 | $ 14,639.6 | $ 13,665.4 |
Other revenue | 5.2 | 3.2 | 9.5 | 5.7 |
Total revenue | 7,325.3 | 6,768.5 | 14,649.1 | 13,671.1 |
Cost of sales | 5,185.4 | 4,640.9 | 10,274.5 | 9,200.5 |
Selling, general and administrative expenses | 1,852.1 | 1,622.2 | 3,667.1 | 3,233.7 |
Operating income | 287.8 | 505.4 | 707.5 | 1,236.9 |
Interest expense, net | 24.2 | 30.6 | 50.1 | 64.6 |
Other (income) expense, net | (0.1) | 0.1 | 0 | 0.1 |
Income before income taxes | 263.7 | 474.7 | 657.4 | 1,172.2 |
Provision for income taxes | 63.3 | 114.8 | 158 | 275.9 |
Net income | $ 200.4 | $ 359.9 | $ 499.4 | $ 896.3 |
Basic net income per share (USD per share) | $ 0.91 | $ 1.61 | $ 2.26 | $ 3.99 |
Diluted net income per share (USD per share) | $ 0.91 | $ 1.60 | $ 2.26 | $ 3.97 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2023 | Jul. 30, 2022 | Jul. 29, 2023 | Jul. 30, 2022 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 200.4 | $ 359.9 | $ 499.4 | $ 896.3 |
Foreign currency translation adjustments | 3.9 | (1) | 1.1 | (1.1) |
Total comprehensive income | $ 204.3 | $ 358.9 | $ 500.5 | $ 895.2 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Jul. 29, 2023 | Jan. 28, 2023 | Jul. 30, 2022 |
Current assets: | |||
Cash and cash equivalents | $ 512.7 | $ 642.8 | $ 688.9 |
Merchandise inventories | 5,329.4 | 5,449.3 | 5,422.2 |
Other current assets | 315.3 | 275 | 266.2 |
Total current assets | 6,157.4 | 6,367.1 | 6,377.3 |
Property, plant and equipment, net of accumulated depreciation of $6,361.6, $6,025.4 and $5,688.9, respectively | 5,359.2 | 4,972.2 | 4,652.9 |
Restricted cash | 70.1 | 68.5 | 53.5 |
Operating lease right-of-use assets | 6,670.9 | 6,458 | 6,433.6 |
Goodwill | 1,983.3 | 1,983.1 | 1,984.3 |
Trade name intangible asset | 3,100 | 3,100 | 3,100 |
Deferred tax asset | 13.1 | 15 | 17.7 |
Other assets | 74 | 58.2 | 57 |
Total assets | 23,428 | 23,022.1 | 22,676.3 |
Current liabilities: | |||
Current portion of operating lease liabilities | 1,478.6 | 1,449.6 | 1,428.3 |
Accounts payable | 1,776.4 | 1,899.8 | 2,011.3 |
Income taxes payable | 10 | 58.1 | 27.4 |
Other current liabilities | 885.3 | 817.7 | 913.5 |
Total current liabilities | 4,150.3 | 4,225.2 | 4,380.5 |
Long-term debt, net | 3,423.9 | 3,421.6 | 3,419.3 |
Operating lease liabilities, long-term | 5,447.8 | 5,255.3 | 5,139.5 |
Deferred income taxes, net | 1,107.6 | 1,105.7 | 1,063.6 |
Income taxes payable, long-term | 18.1 | 17.4 | 20.7 |
Other liabilities | 249.3 | 245.4 | 256.2 |
Total liabilities | 14,397 | 14,270.6 | 14,279.8 |
Commitments and contingencies (Note 2) | |||
Shareholders’ equity: | |||
Common stock, par value $0.01; 600,000,000 shares authorized, 219,918,166, 221,222,984 and 223,932,187 shares issued and outstanding, respectively | 2.2 | 2.2 | 2.2 |
Additional paid-in capital | 446.5 | 667.5 | 1,026.7 |
Accumulated other comprehensive loss | (40.1) | (41.2) | (36.3) |
Retained earnings | 8,622.4 | 8,123 | 7,403.9 |
Total shareholders’ equity | 9,031 | 8,751.5 | 8,396.5 |
Total liabilities and shareholders’ equity | $ 23,428 | $ 23,022.1 | $ 22,676.3 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions | Jul. 29, 2023 | Jan. 28, 2023 | Jul. 30, 2022 |
Statement of Financial Position [Abstract] | |||
Accumulated depreciation, property, plant and equipment | $ 6,361.6 | $ 6,025.4 | $ 5,688.9 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 600,000,000 | 600,000,000 | 600,000,000 |
Common stock, shares issued (in shares) | 219,918,166 | 221,222,984 | 223,932,187 |
Common shares outstanding (in shares) | 219,918,166 | 221,222,984 | 223,932,187 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Retained Earnings |
Beginning balance (in shares) at Jan. 29, 2022 | 225,100,000 | ||||
Beginning balance at Jan. 29, 2022 | $ 7,718.5 | $ 2.2 | $ 1,243.9 | $ (35.2) | $ 6,507.6 |
Statement of Stockholders' Equity [Roll Forward] | |||||
Net income | 896.3 | 896.3 | |||
Total other comprehensive income (loss) | (1.1) | (1.1) | |||
Issuance of stock under Employee Stock Purchase Plan | 4.8 | 4.8 | |||
Stock-based compensation, net (in shares) | 600,000 | ||||
Stock-based compensation, net | $ 28 | 28 | |||
Repurchase of stock (in shares) | (1,754,496) | (1,800,000) | |||
Repurchase of stock | $ (250) | (250) | |||
Ending balance (in shares) at Jul. 30, 2022 | 223,900,000 | ||||
Ending balance at Jul. 30, 2022 | 8,396.5 | $ 2.2 | 1,026.7 | (36.3) | 7,403.9 |
Beginning balance (in shares) at Apr. 30, 2022 | 225,500,000 | ||||
Beginning balance at Apr. 30, 2022 | 8,241.5 | $ 2.2 | 1,230.6 | (35.3) | 7,044 |
Statement of Stockholders' Equity [Roll Forward] | |||||
Net income | 359.9 | 359.9 | |||
Total other comprehensive income (loss) | (1) | (1) | |||
Issuance of stock under Employee Stock Purchase Plan | 1.9 | 1.9 | |||
Stock-based compensation, net (in shares) | 100,000 | ||||
Stock-based compensation, net | $ 30 | 30 | |||
Repurchase of stock (in shares) | (1,664,717) | (1,700,000) | |||
Repurchase of stock | $ (235.8) | (235.8) | |||
Ending balance (in shares) at Jul. 30, 2022 | 223,900,000 | ||||
Ending balance at Jul. 30, 2022 | 8,396.5 | $ 2.2 | 1,026.7 | (36.3) | 7,403.9 |
Beginning balance (in shares) at Jan. 28, 2023 | 221,200,000 | ||||
Beginning balance at Jan. 28, 2023 | 8,751.5 | $ 2.2 | 667.5 | (41.2) | 8,123 |
Statement of Stockholders' Equity [Roll Forward] | |||||
Net income | 499.4 | 499.4 | |||
Total other comprehensive income (loss) | 1.1 | 1.1 | |||
Issuance of stock under Employee Stock Purchase Plan | 5.4 | 5.4 | |||
Exercise of stock options (in shares) | 0 | ||||
Exercise of stock options | 0.1 | 0.1 | |||
Stock-based compensation, net (in shares) | 400,000 | ||||
Stock-based compensation, net | 25.5 | 25.5 | |||
Repurchase of stock (in shares) | 1,700,000 | ||||
Repurchase of stock | $ 252 | 252 | |||
Repurchase of stock (in shares) | (1,728,713) | ||||
Repurchase of stock | $ (252) | ||||
Ending balance (in shares) at Jul. 29, 2023 | 219,900,000 | ||||
Ending balance at Jul. 29, 2023 | 9,031 | $ 2.2 | 446.5 | (40.1) | 8,622.4 |
Beginning balance (in shares) at Apr. 29, 2023 | 220,600,000 | ||||
Beginning balance at Apr. 29, 2023 | 8,899.7 | $ 2.2 | 519.5 | (44) | 8,422 |
Statement of Stockholders' Equity [Roll Forward] | |||||
Net income | 200.4 | 200.4 | |||
Total other comprehensive income (loss) | 3.9 | 3.9 | |||
Issuance of stock under Employee Stock Purchase Plan | 2.5 | 2.5 | |||
Stock-based compensation, net (in shares) | 0 | ||||
Stock-based compensation, net | 24.4 | 24.4 | |||
Repurchase of stock (in shares) | 700,000 | ||||
Repurchase of stock | $ 99.9 | 99.9 | |||
Repurchase of stock (in shares) | (703,713) | ||||
Repurchase of stock | $ (99.9) | ||||
Ending balance (in shares) at Jul. 29, 2023 | 219,900,000 | ||||
Ending balance at Jul. 29, 2023 | $ 9,031 | $ 2.2 | $ 446.5 | $ (40.1) | $ 8,622.4 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 6 Months Ended | |
Jul. 29, 2023 | Jul. 30, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 499.4 | $ 896.3 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 399 | 382.4 |
Provision for deferred income taxes | 3.8 | 78.8 |
Stock-based compensation expense | 53.2 | 66.1 |
Amortization of debt discount and debt-issuance costs | 2.3 | 2.3 |
Other non-cash adjustments to net income | 37.6 | 18.8 |
Changes in operating assets and liabilities: | ||
Merchandise inventories | 120.5 | (1,055.3) |
Income taxes receivable | (22) | 0 |
Other current assets | 18.5 | 10 |
Other assets | 15.9 | 4.9 |
Accounts payable | (123.8) | 127.4 |
Income taxes payable | (48) | (55.2) |
Other current liabilities | 35.7 | 83.5 |
Other liabilities | 4.8 | (0.1) |
Operating lease right-of-use assets and liabilities, net | (4.3) | (9.5) |
Net cash provided by operating activities | 923.8 | 520.6 |
Cash flows from investing activities: | ||
Capital expenditures | (775.8) | (529.6) |
Payments for fixed asset disposition | (5.2) | (3.8) |
Net cash used in investing activities | (781) | (533.4) |
Cash flows from financing activities: | ||
Proceeds from stock issued pursuant to stock-based compensation plans | 5.5 | 4.8 |
Cash paid for taxes on exercises/vesting of stock-based compensation | (27.7) | (38.1) |
Payments for repurchase of stock | (250) | (250) |
Net cash used in financing activities | (272.2) | (283.3) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 0.9 | 0.2 |
Net decrease in cash, cash equivalents and restricted cash | (128.5) | (295.9) |
Cash, cash equivalents and restricted cash at beginning of period | 711.3 | 1,038.3 |
Cash, cash equivalents and restricted cash at end of period | 582.8 | 742.4 |
Cash paid for: | ||
Interest, net of amounts capitalized | 64.5 | 64.3 |
Income taxes | 223.6 | 253.2 |
Non-cash transactions: | ||
Right-of-use assets obtained in exchange for new operating lease liabilities | 959.7 | 726.1 |
Accrued capital expenditures | $ 86.3 | $ 96.1 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jul. 29, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation Unless otherwise stated, references to “we,” “us,” and “our” in this quarterly report on Form 10-Q refer to Dollar Tree, Inc. and its direct and indirect subsidiaries on a consolidated basis. We have prepared the accompanying unaudited condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete consolidated financial statements. The unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in our Annual Report on Form 10-K for the year ended January 28, 2023. The results of operations for the 13 and 26 weeks ended July 29, 2023 are not necessarily indicative of the results to be expected for the entire fiscal year ending February 3, 2024. In our opinion, the unaudited condensed consolidated financial statements included herein contain all adjustments (including those of a normal recurring nature) considered necessary for a fair presentation of our financial position as of July 29, 2023 and July 30, 2022 and the results of our operations and cash flows for the periods presented. The January 28, 2023 balance sheet information was derived from the audited consolidated financial statements as of that date. |
Contingencies
Contingencies | 6 Months Ended |
Jul. 29, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | Contingencies We are defendants in legal proceedings including class, collective, representative and large cases as well as individual claims in arbitration. We will vigorously defend ourselves in these matters. We do not believe that any of these matters will, individually or in the aggregate, have a material effect on our business, financial condition, or liquidity. We cannot give assurance, however, that one or more of these matters will not have a material effect on our results of operations for the quarter or year in which they are reserved or resolved. We assess our legal proceedings monthly and reserves are established if a loss is probable and the amount of such loss can be reasonably estimated. For matters that have settled, we reserve the estimated settlement amount. Many, if not substantially all, of our legal proceedings are subject to significant uncertainties and, therefore, determining the likelihood of a loss and the measurement of any loss can be complex and subject to judgment. With respect to the matters noted below where we have determined that a loss is reasonably possible but not probable, we are unable to reasonably estimate the amount or range of the possible loss at this time due to the inherent difficulty of predicting the outcome of and uncertainties regarding legal proceedings. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. Management’s assessment of legal proceedings could change because of future determinations or the discovery of facts which are not presently known. Accordingly, the ultimate costs of resolving these proceedings may be substantially higher or lower than currently estimated. Active Matters DC 202-related Matters On February 11, 2022, the FDA issued Form 483 observations primarily regarding rodent infestation at Family Dollar’s West Memphis, Arkansas distribution center (“DC 202”) and the related sale and distribution of adulterated product, as well as other processes and procedures that required remediation. In connection therewith, we initiated a retail-level product recall of FDA and U.S. Department of Agriculture-regulated products stored and shipped from DC 202 from January 1, 2021 through February 18, 2022 (the “Recall”), temporarily closed DC 202 for extensive cleaning, temporarily closed the affected stores to permit the removal and destruction of inventory subject to the Recall, ceased sales of relevant inventory subject to the Recall, ceased the direct shipment of FDA-regulated products from DC 202, and initiated corrective actions. In June 2022, we stopped shipping to stores from DC 202 and have since disposed of all of the subject inventory that was in the facility. Since February 22, 2022, Family Dollar has been named in 14 putative class action complaints primarily related to issues associated with DC 202 described above. The lawsuits are proceeding in federal court in Tennessee using the federal court’s multi-district litigation (“MDL”) process, seek class action status, and allege violations of the Mississippi, Arkansas, Louisiana, Tennessee, Alabama and Missouri consumer protection laws, breach of warranty, negligence, misrepresentation, deception and unjust enrichment related to the sale of products that may be contaminated by virtue of rodent infestation and other unsanitary conditions at DC 202. Plaintiffs sought damages, attorney fees and costs, punitive damages and replacement or refund of money paid to purchase the relevant products, and any other legal relief available for their claims (in each case in unspecified amounts), including equitable and injunctive relief. As a result of a mediation held in April 2023, the parties reached a claims made settlement whereby one class member per household will receive a $25 Family Dollar gift certificate. A hearing on the plaintiffs’ motion for preliminary approval of the settlement was held on July 21, 2023. On March 1, 2022, a federal grand jury subpoena was issued to us by the Eastern District of Arkansas requesting the production of information, documents and records pertaining to pests, sanitation and compliance with law regarding certain of our procedures and products. In connection with this matter, we have been investigating the condition of FDA-regulated product shipped from DC 202. We are cooperating fully with the U.S. Department of Justice investigation, including having produced documents and provided additional information. We are currently engaged in discussions with the government in an effort to reach a negotiated resolution. Due to the inherent uncertainties associated with this matter, no assurance can be given as to the timing or outcome of this matter, but we acknowledge that any negotiated resolution will include penalties and company undertakings. On April 28, 2022, the State of Arkansas filed a complaint in state court alleging violations of the Arkansas Deceptive Trade Practices Act, gross negligence and negligence, strict liability in tort, unjust enrichment and civil conspiracy related to the sale of products that may have been contaminated by virtue of rodent infestation and other unsanitary conditions at DC 202. The State of Arkansas is seeking injunctive relief, restitution, disgorgement, damages, civil penalties, punitive damages and suspension or revocation of our authorization to do business in Arkansas. The parties have engaged in discussions regarding a potential resolution of this action. Based on the developments discussed above, we have determined that there is a probable risk of liability for settlement amounts, costs, and potential penalties and accrued $30.0 million in the first quarter of fiscal 2023 for DC 202-related matters. We are currently unable to estimate the amount of additional incremental loss, if any, which may result when the matters are finally resolved. Based on the information available to date, we do not believe the resolution of the DOJ investigation, the State of Arkansas complaint, or settlement of any pending or potential civil litigation related to DC 202 will have a material adverse effect on our business, financial condition, or liquidity. Talc Product Matters Eight personal injury lawsuits are pending in state court in Illinois, New York, Texas, and New Jersey against Dollar Tree, Family Dollar or both alleging that certain talc products that we sold caused cancer. The plaintiffs seek compensatory, punitive and exemplary damages, damages for loss of consortium, and attorneys’ fees and costs. Although we have been able to resolve previous talc lawsuits against us without material loss, given the inherent uncertainties of litigation there can be no assurances regarding the outcome of pending or future cases. Future costs to litigate these cases are not known but may be material, and it is uncertain whether our costs will be covered by insurance. In addition, although we have indemnification rights against our vendors in several of these cases, it is uncertain whether the vendors will have the financial ability to fulfill their obligations to us. Acetaminophen Matters Since August 2022, personal injury cases have been filed in federal court against Dollar Tree, Family Dollar, or both, on behalf of minors alleging that their mothers took acetaminophen while pregnant, that the acetaminophen interfered with fetal development such that plaintiffs were born with autism and/or ADHD, and that we knew or should have known of the danger, had a duty to warn and failed to include appropriate warnings on the product labels. There are currently dozens of cases pending. The plaintiffs seek compensatory, punitive and/or exemplary damages, restitution and disgorgement, economic damages, and attorneys’ fees and costs. These cases, which originated in Alabama, California, Florida, Georgia, Louisiana, Minnesota, Missouri, North Carolina, Kentucky, Tennessee and Texas, along with other cases against many other defendants, have been consolidated in multi-district court litigation in the Southern District of New York. |
Debt
Debt | 6 Months Ended |
Jul. 29, 2023 | |
Debt Disclosure [Abstract] | |
Debt | DebtCommercial Paper ProgramIn July 2023, we established a commercial paper program to issue unsecured commercial paper notes with maturities up to 397 days from the date of issue, up to a maximum aggregate face or principal amount outstanding at any time of $1.5 billion. We expect to use the net proceeds of note issuances for general corporate purposes. Our Revolving Credit Facility will serve as a liquidity backstop for the repayment of notes outstanding under the program. The notes will rank pari passu with all of our other unsecured and unsubordinated indebtedness. As of July 29, 2023, no notes have been issued under the program. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jul. 29, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value MeasurementsAs required, financial assets and liabilities are classified in the fair value hierarchy in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (e.g., when there is evidence of impairment). We did not record any material impairment charges during the 13 or 26 weeks ended July 29, 2023 or July 30, 2022. Fair Value of Financial Instruments The carrying amounts of Cash and cash equivalents, Restricted cash and Accounts payable as reported in the accompanying unaudited condensed consolidated balance sheets approximate fair value due to their short-term maturities. The carrying values of our Revolving Credit Facility and borrowings under our commercial paper program approximate their fair values. The aggregate fair values and carrying values of our long-term borrowings were as follows: July 29, 2023 January 28, 2023 July 30, 2022 (in millions) Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Level 1 Senior Notes $ 3,087.4 $ 3,428.3 $ 3,162.8 $ 3,426.7 $ 3,244.0 $ 3,425.0 |
Net Income Per Share
Net Income Per Share | 3 Months Ended |
Jul. 29, 2023 | |
Earnings Per Share [Abstract] | |
Net Income Per Share | Net Income Per Share The following table sets forth the calculations of basic and diluted net income per share: 13 Weeks Ended 26 Weeks Ended (in millions, except per share data) July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 Basic net income per share: Net income $ 200.4 $ 359.9 $ 499.4 $ 896.3 Weighted average number of shares outstanding 220.1 224.2 220.6 224.7 Basic net income per share $ 0.91 $ 1.61 $ 2.26 $ 3.99 Diluted net income per share: Net income $ 200.4 $ 359.9 $ 499.4 $ 896.3 Weighted average number of shares outstanding 220.1 224.2 220.6 224.7 Dilutive effect of stock options and restricted stock (as 0.4 0.8 0.5 1.0 Weighted average number of shares and dilutive potential 220.5 225.0 221.1 225.7 Diluted net income per share $ 0.91 $ 1.60 $ 2.26 $ 3.97 Stock options and other stock-based awards of 2.4 million shares and 3.0 million shares were excluded from the calculation of diluted net income per share for the 13 and 26 weeks ended July 29, 2023, respectively, because their inclusion would be anti-dilutive. Stock options and other stock-based awards of 2.3 million shares and 2.8 million shares were excluded from the calculation of diluted net income per share for the 13 and 26 weeks ended July 30, 2022, respectively, because their inclusion would be anti-dilutive. |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Jul. 29, 2023 | |
Equity [Abstract] | |
Shareholders' Equity | Shareholders’ EquityWe repurchased 703,713 and 1,728,713 shares of common stock on the open market at a cost of $99.9 million and $252.0 million, including applicable excise tax, during the 13 and 26 weeks ended July 29, 2023, respectively. We repurchased 1,664,717 and 1,754,496 shares of common stock on the open market at a cost of $235.8 million and $250.0 million during the 13 and 26 weeks ended July 30, 2022, respectively. At July 29, 2023, we had $1.6 billion remaining under our Board repurchase authorization. |
Segments and Disaggregated Reve
Segments and Disaggregated Revenue | 6 Months Ended |
Jul. 29, 2023 | |
Segment Reporting [Abstract] | |
Segments and Disaggregated Revenue | Segments and Disaggregated Revenue We operate more than 16,400 retail discount stores in 48 states and five Canadian provinces. Our operations are conducted in two reporting business segments: Dollar Tree and Family Dollar. We define our segments as those operations whose results our chief operating decision maker (“CODM”) regularly reviews to analyze performance and allocate resources. The Dollar Tree segment is the leading operator of discount variety stores offering merchandise predominantly at the fixed price point of $1.25, with additional offerings at $3, $4 and $5 price points. The Dollar Tree segment includes our operations under the “Dollar Tree” and “Dollar Tree Canada” brands, 15 distribution centers in the United States and two distribution centers in Canada. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of competitively-priced merchandise in convenient neighborhood stores. The Family Dollar segment consists of our operations under the “Family Dollar” brand and ten distribution centers. The Family Dollar segment Operating income includes advertising revenue, which is a component of Other revenue in the accompanying unaudited condensed consolidated income statements. We measure the results of our segments using, among other measures, each segment’s net sales, gross profit and operating income. The CODM reviews these metrics for each of our reporting segments. We may revise the measurement of each segment’s operating income, as determined by the information regularly reviewed by the CODM. If the measurement of a segment changes, prior period amounts and balances are reclassified to be comparable to the current period’s presentation. Corporate, support and Other consists primarily of store support center costs that are considered shared services and therefore these selling, general and administrative costs are excluded from our two reporting business segments. These costs include operating expenses for our store support center and the results of operations for our Summit Pointe property in Chesapeake, Virginia. Information for our segments, as well as for Corporate, support and Other, including the reconciliation to Income before income taxes, is as follows: 13 Weeks Ended 26 Weeks Ended (in millions) July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 Condensed Consolidated Income Statement Data: Net sales: Dollar Tree $ 3,873.4 $ 3,571.1 $ 7,805.1 $ 7,352.9 Family Dollar 3,446.7 3,194.2 6,834.5 6,312.5 Consolidated Net sales $ 7,320.1 $ 6,765.3 $ 14,639.6 $ 13,665.4 Gross profit: Dollar Tree $ 1,293.3 $ 1,334.9 $ 2,681.9 $ 2,869.6 Family Dollar 841.4 789.5 1,683.2 1,595.3 Consolidated Gross profit $ 2,134.7 $ 2,124.4 $ 4,365.1 $ 4,464.9 Operating income (loss): Dollar Tree $ 397.8 $ 550.8 $ 933.5 $ 1,315.0 Family Dollar 11.8 55.0 20.6 144.5 Corporate, support and Other (121.8) (100.4) (246.6) (222.6) Consolidated Operating income 287.8 505.4 707.5 1,236.9 Interest expense, net 24.2 30.6 50.1 64.6 Other expense, net (0.1) 0.1 — 0.1 Income before income taxes $ 263.7 $ 474.7 $ 657.4 $ 1,172.2 As of (in millions) July 29, 2023 January 28, 2023 July 30, 2022 Condensed Consolidated Balance Sheet Data: Goodwill: Dollar Tree $ 423.8 $ 423.6 $ 424.8 Family Dollar 1,559.5 1,559.5 1,559.5 Consolidated Goodwill $ 1,983.3 $ 1,983.1 $ 1,984.3 Total assets: Dollar Tree $ 9,742.9 $ 9,914.6 $ 9,783.8 Family Dollar 13,065.0 12,562.2 12,359.1 Corporate, support and Other 620.1 545.3 533.4 Consolidated Total assets $ 23,428.0 $ 23,022.1 $ 22,676.3 Disaggregated Revenue The following table summarizes net sales by merchandise category for our segments: 13 Weeks Ended 26 Weeks Ended (in millions) July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 Dollar Tree segment net sales by Consumable $ 1,880.9 48.5 % $ 1,671.9 46.8 % $ 3,768.1 48.3 % $ 3,419.1 46.5 % Variety 1,981.8 51.2 % 1,892.9 53.0 % 3,845.4 49.3 % 3,757.3 51.1 % Seasonal 10.7 0.3 % 6.3 0.2 % 191.6 2.4 % 176.5 2.4 % Total Dollar Tree segment net sales $ 3,873.4 100.0 % $ 3,571.1 100.0 % $ 7,805.1 100.0 % $ 7,352.9 100.0 % Family Dollar segment net sales by Consumable $ 2,741.9 79.6 % $ 2,467.0 77.3 % $ 5,455.4 79.8 % $ 4,902.1 77.7 % Home products 223.0 6.5 % 234.1 7.3 % 462.5 6.8 % 482.2 7.6 % Apparel and accessories 174.4 5.0 % 191.9 6.0 % 337.6 4.9 % 359.3 5.7 % Seasonal and electronics 307.4 8.9 % 301.2 9.4 % 579.0 8.5 % 568.9 9.0 % Total Family Dollar segment net sales $ 3,446.7 100.0 % $ 3,194.2 100.0 % $ 6,834.5 100.0 % $ 6,312.5 100.0 % |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jul. 29, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Legal Proceedings | We are defendants in legal proceedings including class, collective, representative and large cases as well as individual claims in arbitration. We will vigorously defend ourselves in these matters. We do not believe that any of these matters will, individually or in the aggregate, have a material effect on our business, financial condition, or liquidity. We cannot give assurance, however, that one or more of these matters will not have a material effect on our results of operations for the quarter or year in which they are reserved or resolved. We assess our legal proceedings monthly and reserves are established if a loss is probable and the amount of such loss can be reasonably estimated. For matters that have settled, we reserve the estimated settlement amount. Many, if not substantially all, of our legal proceedings are subject to significant uncertainties and, therefore, determining the likelihood of a loss and the measurement of any loss can be complex and subject to judgment. With respect to the matters noted below where we have determined that a loss is reasonably possible but not probable, we are unable to reasonably estimate the amount or range of the possible loss at this time due to the inherent difficulty of predicting the outcome of and uncertainties regarding legal proceedings. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. Management’s assessment of legal proceedings could change because of future determinations or the discovery of facts which are not presently known. Accordingly, the ultimate costs of resolving these proceedings may be substantially higher or lower than currently estimated. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jul. 29, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair values and carrying values of long-term borrowings | The aggregate fair values and carrying values of our long-term borrowings were as follows: July 29, 2023 January 28, 2023 July 30, 2022 (in millions) Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Level 1 Senior Notes $ 3,087.4 $ 3,428.3 $ 3,162.8 $ 3,426.7 $ 3,244.0 $ 3,425.0 |
Net Income Per Share (Tables)
Net Income Per Share (Tables) | 6 Months Ended |
Jul. 29, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of basic and diluted net income per share | The following table sets forth the calculations of basic and diluted net income per share: 13 Weeks Ended 26 Weeks Ended (in millions, except per share data) July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 Basic net income per share: Net income $ 200.4 $ 359.9 $ 499.4 $ 896.3 Weighted average number of shares outstanding 220.1 224.2 220.6 224.7 Basic net income per share $ 0.91 $ 1.61 $ 2.26 $ 3.99 Diluted net income per share: Net income $ 200.4 $ 359.9 $ 499.4 $ 896.3 Weighted average number of shares outstanding 220.1 224.2 220.6 224.7 Dilutive effect of stock options and restricted stock (as 0.4 0.8 0.5 1.0 Weighted average number of shares and dilutive potential 220.5 225.0 221.1 225.7 Diluted net income per share $ 0.91 $ 1.60 $ 2.26 $ 3.97 |
Segments and Disaggregated Re_2
Segments and Disaggregated Revenue (Tables) | 6 Months Ended |
Jul. 29, 2023 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Information for our segments, as well as for Corporate, support and Other, including the reconciliation to Income before income taxes, is as follows: 13 Weeks Ended 26 Weeks Ended (in millions) July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 Condensed Consolidated Income Statement Data: Net sales: Dollar Tree $ 3,873.4 $ 3,571.1 $ 7,805.1 $ 7,352.9 Family Dollar 3,446.7 3,194.2 6,834.5 6,312.5 Consolidated Net sales $ 7,320.1 $ 6,765.3 $ 14,639.6 $ 13,665.4 Gross profit: Dollar Tree $ 1,293.3 $ 1,334.9 $ 2,681.9 $ 2,869.6 Family Dollar 841.4 789.5 1,683.2 1,595.3 Consolidated Gross profit $ 2,134.7 $ 2,124.4 $ 4,365.1 $ 4,464.9 Operating income (loss): Dollar Tree $ 397.8 $ 550.8 $ 933.5 $ 1,315.0 Family Dollar 11.8 55.0 20.6 144.5 Corporate, support and Other (121.8) (100.4) (246.6) (222.6) Consolidated Operating income 287.8 505.4 707.5 1,236.9 Interest expense, net 24.2 30.6 50.1 64.6 Other expense, net (0.1) 0.1 — 0.1 Income before income taxes $ 263.7 $ 474.7 $ 657.4 $ 1,172.2 As of (in millions) July 29, 2023 January 28, 2023 July 30, 2022 Condensed Consolidated Balance Sheet Data: Goodwill: Dollar Tree $ 423.8 $ 423.6 $ 424.8 Family Dollar 1,559.5 1,559.5 1,559.5 Consolidated Goodwill $ 1,983.3 $ 1,983.1 $ 1,984.3 Total assets: Dollar Tree $ 9,742.9 $ 9,914.6 $ 9,783.8 Family Dollar 13,065.0 12,562.2 12,359.1 Corporate, support and Other 620.1 545.3 533.4 Consolidated Total assets $ 23,428.0 $ 23,022.1 $ 22,676.3 |
Disaggregation of Revenue | The following table summarizes net sales by merchandise category for our segments: 13 Weeks Ended 26 Weeks Ended (in millions) July 29, 2023 July 30, 2022 July 29, 2023 July 30, 2022 Dollar Tree segment net sales by Consumable $ 1,880.9 48.5 % $ 1,671.9 46.8 % $ 3,768.1 48.3 % $ 3,419.1 46.5 % Variety 1,981.8 51.2 % 1,892.9 53.0 % 3,845.4 49.3 % 3,757.3 51.1 % Seasonal 10.7 0.3 % 6.3 0.2 % 191.6 2.4 % 176.5 2.4 % Total Dollar Tree segment net sales $ 3,873.4 100.0 % $ 3,571.1 100.0 % $ 7,805.1 100.0 % $ 7,352.9 100.0 % Family Dollar segment net sales by Consumable $ 2,741.9 79.6 % $ 2,467.0 77.3 % $ 5,455.4 79.8 % $ 4,902.1 77.7 % Home products 223.0 6.5 % 234.1 7.3 % 462.5 6.8 % 482.2 7.6 % Apparel and accessories 174.4 5.0 % 191.9 6.0 % 337.6 4.9 % 359.3 5.7 % Seasonal and electronics 307.4 8.9 % 301.2 9.4 % 579.0 8.5 % 568.9 9.0 % Total Family Dollar segment net sales $ 3,446.7 100.0 % $ 3,194.2 100.0 % $ 6,834.5 100.0 % $ 6,312.5 100.0 % |
Contingencies - Narrative (Deta
Contingencies - Narrative (Details) | 6 Months Ended | |
Jul. 29, 2023 USD ($) lawsuit | Apr. 30, 2023 USD ($) | |
Loss Contingencies [Line Items] | ||
Number of class action lawsuits | lawsuit | 14 | |
Damages awarded, value per gift certificate | $ | $ 25 | |
Pending litigation | ||
Loss Contingencies [Line Items] | ||
Loss contingency accrual | $ | $ 30,000,000 | |
Pending litigation | Dollar Tree | ||
Loss Contingencies [Line Items] | ||
Number of lawsuits | lawsuit | 8 |
Debt (Details)
Debt (Details) - Commercial Paper $ in Billions | Jul. 29, 2023 USD ($) |
Debt Instrument [Line Items] | |
Term | 397 days |
Aggregate face or principal amount | $ 1.5 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value of Financial Instruments (Details) - Fair value, inputs, level 1 - Senior Notes - USD ($) $ in Millions | Jul. 29, 2023 | Jan. 28, 2023 | Jul. 30, 2022 |
Fair Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term borrowings | $ 3,087.4 | $ 3,162.8 | $ 3,244 |
Carrying Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term borrowings | $ 3,428.3 | $ 3,426.7 | $ 3,425 |
Net Income Per Share - Schedule
Net Income Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2023 | Jul. 30, 2022 | Jul. 29, 2023 | Jul. 30, 2022 | |
Basic net income per share: | ||||
Net income | $ 200.4 | $ 359.9 | $ 499.4 | $ 896.3 |
Weighted average number of shares outstanding (in shares) | 220.1 | 224.2 | 220.6 | 224.7 |
Basic net income per share (USD per share) | $ 0.91 | $ 1.61 | $ 2.26 | $ 3.99 |
Diluted net income per share: | ||||
Net income | $ 200.4 | $ 359.9 | $ 499.4 | $ 896.3 |
Weighted average number of shares outstanding (in shares) | 220.1 | 224.2 | 220.6 | 224.7 |
Dilutive effect of stock options and restricted stock (as determined by applying the treasury stock method) (in shares) | 0.4 | 0.8 | 0.5 | 1 |
Weighted average number of shares and dilutive potential shares outstanding (in shares) | 220.5 | 225 | 221.1 | 225.7 |
Diluted net income per share (USD per share) | $ 0.91 | $ 1.60 | $ 2.26 | $ 3.97 |
Net Income Per Share - Narrativ
Net Income Per Share - Narrative (Details) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2023 | Jul. 30, 2022 | Jul. 29, 2023 | Jul. 30, 2022 | |
Earnings Per Share [Abstract] | ||||
Antidilutive securities (in shares) | 2.4 | 2.3 | 3 | 2.8 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2023 | Jul. 30, 2022 | Jul. 29, 2023 | Jul. 30, 2022 | |
Equity [Abstract] | ||||
Repurchase of stock (in shares) | 703,713 | 1,664,717 | 1,728,713 | 1,754,496 |
Repurchase of stock | $ 99.9 | $ 235.8 | $ 252 | $ 250 |
Remaining repurchase authorization | $ 1,600 | $ 1,600 |
Segments and Disaggregated Re_3
Segments and Disaggregated Revenue - Narrative (Details) | 6 Months Ended |
Jul. 29, 2023 USD ($) distribution_center state segment store province | |
Segment Reporting Information [Line Items] | |
Number of retail discount stores | store | 16,400 |
Number of states/provinces the Company operates in | state | 48 |
Number of reporting business segments | segment | 2 |
Merchandise fixed price, price point two | $ 3 |
Merchandise fixed price, price point three | 4 |
Merchandise fixed price, price point four | 5 |
Dollar Tree | |
Segment Reporting Information [Line Items] | |
Merchandise fixed price, price point one | $ 1.25 |
Family Dollar | |
Segment Reporting Information [Line Items] | |
Number of distribution centers | distribution_center | 10 |
Canada | |
Segment Reporting Information [Line Items] | |
Number of states/provinces the Company operates in | province | 5 |
Canada | Dollar Tree | |
Segment Reporting Information [Line Items] | |
Number of distribution centers | distribution_center | 2 |
United States | Dollar Tree | |
Segment Reporting Information [Line Items] | |
Number of distribution centers | distribution_center | 15 |
Segments and Disaggregated Re_4
Segments and Disaggregated Revenue - Information For Segments and Corporate and Support (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jul. 29, 2023 | Jul. 30, 2022 | Jul. 29, 2023 | Jul. 30, 2022 | Jan. 28, 2023 | |
Condensed Consolidated Income Statement Data: | |||||
Net sales | $ 7,320.1 | $ 6,765.3 | $ 14,639.6 | $ 13,665.4 | |
Gross profit | 2,134.7 | 2,124.4 | 4,365.1 | 4,464.9 | |
Operating income | 287.8 | 505.4 | 707.5 | 1,236.9 | |
Interest expense, net | 24.2 | 30.6 | 50.1 | 64.6 | |
Other (income) expense, net | (0.1) | 0.1 | 0 | 0.1 | |
Income before income taxes | 263.7 | 474.7 | 657.4 | 1,172.2 | |
Condensed Consolidated Balance Sheet Data: | |||||
Consolidated Goodwill | 1,983.3 | 1,984.3 | 1,983.3 | 1,984.3 | $ 1,983.1 |
Consolidated Total assets | 23,428 | 22,676.3 | 23,428 | 22,676.3 | 23,022.1 |
Corporate, support and Other | |||||
Condensed Consolidated Income Statement Data: | |||||
Operating income | (121.8) | (100.4) | (246.6) | (222.6) | |
Condensed Consolidated Balance Sheet Data: | |||||
Consolidated Total assets | 620.1 | 533.4 | 620.1 | 533.4 | 545.3 |
Dollar Tree | |||||
Condensed Consolidated Income Statement Data: | |||||
Net sales | 3,873.4 | 3,571.1 | 7,805.1 | 7,352.9 | |
Dollar Tree | Operating segments | |||||
Condensed Consolidated Income Statement Data: | |||||
Net sales | 3,873.4 | 3,571.1 | 7,805.1 | 7,352.9 | |
Gross profit | 1,293.3 | 1,334.9 | 2,681.9 | 2,869.6 | |
Operating income | 397.8 | 550.8 | 933.5 | 1,315 | |
Condensed Consolidated Balance Sheet Data: | |||||
Consolidated Goodwill | 423.8 | 424.8 | 423.8 | 424.8 | 423.6 |
Consolidated Total assets | 9,742.9 | 9,783.8 | 9,742.9 | 9,783.8 | 9,914.6 |
Family Dollar | |||||
Condensed Consolidated Income Statement Data: | |||||
Net sales | 3,446.7 | 3,194.2 | 6,834.5 | 6,312.5 | |
Family Dollar | Operating segments | |||||
Condensed Consolidated Income Statement Data: | |||||
Net sales | 3,446.7 | 3,194.2 | 6,834.5 | 6,312.5 | |
Gross profit | 841.4 | 789.5 | 1,683.2 | 1,595.3 | |
Operating income | 11.8 | 55 | 20.6 | 144.5 | |
Condensed Consolidated Balance Sheet Data: | |||||
Consolidated Goodwill | 1,559.5 | 1,559.5 | 1,559.5 | 1,559.5 | 1,559.5 |
Consolidated Total assets | $ 13,065 | $ 12,359.1 | $ 13,065 | $ 12,359.1 | $ 12,562.2 |
Segments and Disaggregated Re_5
Segments and Disaggregated Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2023 | Jul. 30, 2022 | Jul. 29, 2023 | Jul. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 7,320.1 | $ 6,765.3 | $ 14,639.6 | $ 13,665.4 |
Dollar Tree | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 3,873.4 | 3,571.1 | 7,805.1 | 7,352.9 |
Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 3,446.7 | $ 3,194.2 | $ 6,834.5 | $ 6,312.5 |
Product Concentration Risk | Revenue, Segment Benchmark | Dollar Tree | ||||
Disaggregation of Revenue [Line Items] | ||||
Concentration risk, percentage | 100% | 100% | 100% | 100% |
Product Concentration Risk | Revenue, Segment Benchmark | Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Concentration risk, percentage | 100% | 100% | 100% | 100% |
Consumable | Dollar Tree | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 1,880.9 | $ 1,671.9 | $ 3,768.1 | $ 3,419.1 |
Consumable | Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 2,741.9 | $ 2,467 | $ 5,455.4 | $ 4,902.1 |
Consumable | Product Concentration Risk | Revenue, Segment Benchmark | Dollar Tree | ||||
Disaggregation of Revenue [Line Items] | ||||
Concentration risk, percentage | 48.50% | 46.80% | 48.30% | 46.50% |
Consumable | Product Concentration Risk | Revenue, Segment Benchmark | Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Concentration risk, percentage | 79.60% | 77.30% | 79.80% | 77.70% |
Variety | Dollar Tree | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 1,981.8 | $ 1,892.9 | $ 3,845.4 | $ 3,757.3 |
Variety | Product Concentration Risk | Revenue, Segment Benchmark | Dollar Tree | ||||
Disaggregation of Revenue [Line Items] | ||||
Concentration risk, percentage | 51.20% | 53% | 49.30% | 51.10% |
Seasonal | Dollar Tree | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 10.7 | $ 6.3 | $ 191.6 | $ 176.5 |
Seasonal | Product Concentration Risk | Revenue, Segment Benchmark | Dollar Tree | ||||
Disaggregation of Revenue [Line Items] | ||||
Concentration risk, percentage | 0.30% | 0.20% | 2.40% | 2.40% |
Home Products | Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 223 | $ 234.1 | $ 462.5 | $ 482.2 |
Home Products | Product Concentration Risk | Revenue, Segment Benchmark | Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Concentration risk, percentage | 6.50% | 7.30% | 6.80% | 7.60% |
Apparel And Accessories | Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 174.4 | $ 191.9 | $ 337.6 | $ 359.3 |
Apparel And Accessories | Product Concentration Risk | Revenue, Segment Benchmark | Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Concentration risk, percentage | 5% | 6% | 4.90% | 5.70% |
Seasonal And Electronics | Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 307.4 | $ 301.2 | $ 579 | $ 568.9 |
Seasonal And Electronics | Product Concentration Risk | Revenue, Segment Benchmark | Family Dollar | ||||
Disaggregation of Revenue [Line Items] | ||||
Concentration risk, percentage | 8.90% | 9.40% | 8.50% | 9% |