Summary
Dollar Tree Stores, Inc. (DLTR) filed an 8-K on April 7, 2003, to provide a business update for the first quarter of fiscal year 2003. The company anticipates total sales for the quarter (ending May 3, 2003) to be in the range of $590 to $610 million. As of April 5, sales were on track, positioned within the lower-to-middle part of this projected range. Notably, Dollar Tree has not yet observed a discernible impact on sales from the war in Iraq. The company also highlighted the late timing of Easter this year (April 20th), which typically benefits sales due to an extended selling season, making the upcoming two weeks crucial for its quarterly performance. The store base has also expanded, with 2,301 stores in 41 states as of March 31, 2003, up from 2,031 stores in 37 states a year prior.
Key Highlights
- 1Dollar Tree projects Q1 fiscal 2003 total sales between $590 million and $610 million.
- 2As of April 5, 2003, sales were on-plan, falling within the lower-to-middle of the projected range.
- 3The company has not seen any measurable impact on sales from the war in Iraq to date.
- 4The later timing of Easter (April 20, 2003) is expected to benefit sales, with the crucial selling period approaching.
- 5Store count has grown to 2,301 locations across 41 states as of March 31, 2003, up from 2,031 stores a year ago.
- 6The update is provided via a recorded telephone announcement and will not be updated until the official quarterly sales release on May 8, 2003.