Board morning. I'm to good has welcome everyone and the to leadership honored following as I first transition. speaking interim critical you today's to time at this time call. our transformation. role is recent our that This want a my named Bob, me CEO to Thanks, in
I and please responsibility for stakeholders, provided thank at of leaders. the very humility. our the seriously Rick this best. associates take I know Dollar very and our Tree, all all all leadership and great he To support his that us we wish From to also want Dreiling to with him
and As priority against top Board. to Executing an the accelerating organization, structure our strategic remain ownership growth finalizing leadership the is review Tree Dollar for the our objectives and of optimal the Family priorities first for team this identify Dollar. these
Family our meaningful review focus strategic maintained we and driven the process, improvements and productivity operational profitability. have Throughout in Dollar sales
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you look to talked months days and community, already to in many I I've more While you to forward investment ahead. of of the in know getting many the
I'd like and update quarter third our you initiatives. several that, to highlights With key share on our of
Tree were In line results QX, Total merchandising tangible out-of-the-gate announced store range. strong our and when we especially with Xx a over the openings XX the in at revenue contributing in Tree quarter net and Dollar our sales leadership Cents high that came boost reminder, third in big got Dollar said more we Tree transition with efforts of our produced overall of our end outlook performance noncomp pace sales expectations Only a the year. from and sales Dollar stores noncomp results This reflects November. increased Dollar portfolio. of the As early Family this
sequentially sequentially driven Dollar discretionary comp market and with XXXX. its by improved over traffic share both gains ticket. Family comp Tree's in Dollar's trends also since first QX, and comp positive improved positive
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said, approximately opened Only will XX and have we newly year-end, of multi-price by the operating being converted and stores stores. former stores, X.X That X,XXX open Cents including including most
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new store efforts XX% real multi-price. QX, base over Dollar still we under banner. full of have the at those see end stores. over with Dollar by goal X% looking and we've opening our opened and of us of we given coming our growth a back XXX stores ahead Year-over-year, XXX long Through new our are Stepping towards way resonance the broadly, estate market year meeting on of Tree runway Tree XXX more well growing to increased of the our
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QX, In year-over-year both proactive shrink improvements delivered banners, our Family steps at particularly to Dollar. reduce
mitigation Tree necessitated quarter. has expansion stepped-up reduction shrink we modest of some during the at in still the shrink saw efforts, Dollar multi-price While
and Now a X.X% consolidated let some EPS from was to On of highlights the me basis, net increased sales operational $X.XX. billion the adjusted diluted recap $X.X quarter.
ticket. increase QX XXXX. positive comp increased segment and at banner. Tree's X.X% was This performance in first Dollar X.X% of on by Tree average traffic since comp a increase Dollar Looking X.X% a in ticket
Dollar Tree's right over increase QX quarters, consumables of shifting this so is XX.X%, had XXX towards in was by basis previous a direction. a been clearly of in XXX points the basis consumable X points. mix year-over-year each step the Mix
top XX.X% categories. candy X.X%, best-performing were was comp Consumable the Snacks, of which came an on comp. and beverages
comp were stores at in seen categories consumers' electronics, additional reflecting health textiles Halloween strength quarter. ongoing our purchases. needs-based the and discretionary and personal on declined multi-price comp X.X best-performing was positive Discretionary stores. care at Discretionary focus care X.X%, X.X the the Hardware, with modestly in
consistent with trends we during across retail the the was Our industry saw soft demand quarter. discretionary broader
volume accelerated with the and XXX Based unit dollar on consumables market Nielsen XXX share basis outpacing basis volume the points. data, growth quarter industry in by by in Dollar Tree's outpacing points gain
Dollar, to me context performance of market Tree's moving trends. the let Before Family on take moment recent to in Dollar on broader a comment
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of but a business is that as only Tree's With X-year ever, our business. consumable XX%, is strong half as Dollar stack of comp
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Discretionary comp over point increased basis which a X.X%, QX. XXX was sequential improvement
More positive XXXX. our of result since positive targeted discretionary categories. discretionary hardware Children's QX apparel, discretionary Family best-performing importantly, the efforts. believe was merchandising We comp electronics direct the Dollar's Dollar's and QX were are Family first results
like items everyday strategy we essentials. pricing recent In on value with and home purchase adjusted quarters, emphasis our more higher-frequency
sales we below part strategy, at $X. As updated value items strips image, the ways to cash our and we initiatives resonating core We communicate to price to with we in-store or productivity. priced our results additional are number of space positive shelf seeing at this optimize of increased identified are and Family the planograms clearly our drive better and Dollar and customer, our register. These the signage
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the customized product needs feature these that assortments As meet of our formats base. diverse better a customer reminder,
a experience drive example, caps stores with seasonal and an customized space include additional shopping unit and enhanced For that end coolers, better economics. offerings optimization expanded X.X
reduced point quarter. Dollar, the in Family comp on we headwind Lastly, SNAP basis benefits a XX estimate or
While SNAP balance SNAP X% think year. in headwinds down overall the will were continue moderate payments comp of over QX, from we to nationally by the the
of about new questions impact tariffs in the received have administration. we gears, Shifting potential the
options changing a remains any dealt his multiple While were of still and XXXX or years X the mitigate we scope team with navigating of dropping landscapes. nature, items. fluid product potential of timing yet issue, is all XXXX, those we on McNeely successfully many specs the of not fronts. Today, majority last or to impact this by suppliers, situation new in prepared have experience of merchants and noneconomical Back disposal. the to lower tariff Rick sizes we variety clear, act of tariffs and the negotiating costs exact eventual pack our at our when and are able with are
on flexibility we us those, now assortment. our additional for supply alternate of top and place actions is to on most plans range to and gives multi-price detailed have if On our of we there can our similar countries and tariffs products challenges, help product sources mitigate they in when history materialize. Based our to scale past of that navigating potential wide additional take we through believe shift of a
to environment as past despite With freight, year respect stable, freight. the relation Canal we to and freight, Red to manage be to particularly continued a markets fluid strikes continue American domestic On in ports. disruptions well the relatively in through North as over Sea the at ocean Panama
deadline. proactively the event seasonal strikes, and potential by ports the in Regarding we're managing workers tentative our the don't Coast imports East their Gulf current January approve that contract
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We alternatives other a could potential which The planned. strategic among moving the to for is forward Dollar, remain review or process as completing Family spin-off include disposition sale, business, of the of others. committed formal
at timeline we no is comment this can't completion team, outcome. good remains any definitive on made or While specific time the deadline and progress for being by there set
have will we continue public information. new We share updates when to
The optimal to value as always, remain, finding guideposts structure of through the review maximize shareholder each the for banner.
to landscape. operational their Family years in was work progress we our the macro through business. made of the past have to we've We're extremely look for and navigating over the challenging an way proud and few the review at date, as accomplished core solid Dollar We steps the forward even next customer
tone Before the high-level I I'd his this like the current of offer few business in our the comments call Jeff will and of in to remarks. year. over cover a greater Jeff, turn detail the for to outlook balance about
have a season. value price teams Christmas the Our Tree a laid holiday our range for our excited of deliver exceptional merchandising to especially foundation expanded consumers to year-end We're at assortment Dollar by at wider and successful points. ability
expanding fourth a softer be our the to quarter the to given got multi-price response to the and off While assortment Thanksgiving election start continues positive, later-than-usual timing.
remain we said, That optimistic about December.
in should help While we there the between are and total year, X week. Thanksgiving this fewer extra some from selling in of get falling days Christmas middle Christmas the
and compelling holidays. and done have than merchandise stores great, ever preparing teams for it's the an more operation our excellent look merchant Our been. The assortment is job
Family quarter we to are comps our ability Tree with Dollar Even moving pieces, the single-digit confident these and the deliver in fourth in low Dollar both at banners.
Davis announce an morning smooth agreed Chief as successor to Before and Officer. for to through during board to Ideally, the his of our on Tree. service we to filing Dollar We and his appreciate with has company be announcement I launched The you this external will our a remain contributions sure facilitate XX-K. Jeff search, Jeff has Financial a that business the wrap up, thank prior transition, he am Jeff saw earlier departure. I to time down his the stepping made has plan
turn With to call that, I'll Jeff. the over
