Wednesday January 2nd, 2013 - 12:44PM
Dollar Tree, Inc. has announced plans to expand its distribution center in Marietta, OK. The project will add an additional 400,000 square feet of space while creating more than 100 full time positions, the company stated.
The Marietta DC opened in 2003 and currently covers 603,000 square feet. The facility supplies products to Dollar Tree stores across 11 states, including all of Oklahoma, Kansas, Colorado, New Mexico and Texas, as well as portions of Louisiana, Arkansas, Missouri, Nebraska, South Dakota, Wyoming and Montana.
Dollar Tree said it has scheduled expansion construction to begin in February 2013, and it intends to complete the building project in the autumn of 2013. The retailer expects the total expansion cost to be approximately $25 million, financed by available cash.
“Dollar Tree has grown steadily for 26 years,” said Bob Sasser, Dollar Tree president and CEO. "The expansion of our Marietta distribution center is consistent with our long-standing practice of building infrastructure to support future growth of our business. The additional capacity will allow Dollar Tree to continue to expand its reach and provide more value to more customers throughout the region.”
In its most recent, third quarter earnings results, Dollar Tree posted a 7.8% consolidated net sales increase and a 1.6% comparable store sales increase, the company reported. Net income came in at $155.4 million versus $104.5 million in last year’s quarter, while diluted earnings per share, adjusted to remove the impact of one-time charges, were 51 cents versus 43 cents for the quarter ended October 29, 2011.
Dollar Tree operated 4,630 stores in 48 states and five Canadian provinces as of October 27, 2012, it noted.