10-Q/APeriod: Q1 FY2003

DOLLAR TREE, INC. Quarterly Report (Amendment) for Q1 Ended Mar 31, 2002

Filed August 9, 2002For Securities:DLTR

Summary

Dollar Tree Stores, Inc. filed an amendment to its Form 10-Q for the quarterly period ended March 31, 2002, to correct a clerical error in its Management's Discussion and Analysis. The amendment specifically addresses the number of store openings, expansions, and closures during the first quarter of 2002 compared to the first quarter of 2001. The primary correction indicates that in the first quarter of 2002, Dollar Tree opened 66 stores, expanded 29, and closed 10. This compares to the first quarter of 2001, where the company opened 60 stores, expanded 31, and closed 8. This adjustment provides a more accurate picture of the company's physical store growth strategy and operational changes during the period. Investors should note this correction to understand the precise scale of the company's expansion efforts.

Key Highlights

  • 1Amendment filed to correct a clerical error in the Q1 2002 10-Q filing regarding store count changes.
  • 2The corrected figures show 66 stores opened, 29 expanded, and 10 closed in Q1 2002.
  • 3This compares to 60 stores opened, 31 expanded, and 8 closed in Q1 2001.
  • 4As of March 31, 2002, Dollar Tree operated 2,031 stores, a significant increase from 1,781 stores in the same period of 2001.
  • 5Total selling square footage grew to 10.7 million as of March 31, 2002, from 8.3 million in the prior year period.
  • 6Approximately 0.6 million selling square feet were added in 2002, with 0.1 million from store expansions.
  • 7Certifications from the CEO and CFO are included as exhibits.

Frequently Asked Questions

This filing is an amendment to Dollar Tree's Form 10-Q for the quarter ended March 31, 2002. The amendment's purpose is to correct a clerical error in the 'Results of Operations' section of the Management's Discussion and Analysis, specifically concerning the number of store openings, expansions, and closures in the first quarter of 2001 and 2002.

The original filing incorrectly stated the store opening and closing figures for Q1 2001. The corrected figures are: In Q1 2002, 66 stores were opened, 29 were expanded, and 10 were closed. This compares to Q1 2001, where 60 stores were opened, 31 were expanded, and 8 were closed. The amended filing provides these corrected numbers.

The company's store count has increased significantly. As of March 31, 2002, Dollar Tree operated 2,031 stores, up from 1,781 stores in the same period of 2001. This expansion has also led to an increase in selling square footage from 8.3 million to 10.7 million.