Dollar Tree plans to hire 25,000 associates in its third annual nationwide hiring event hosted at Dollar Tree and Family Dollar stores across the country on Wednesday, October 17.
Dollar Tree, as part of its continuing integration of Family Dollar’s organization and support functions, plans to consolidate its store support centers in Matthews, North Carolina and Chesapeake, Virginia, to the company’s newly-completed office tower in the Summit Pointe development in Chesapeake.
Second quarter sales at Dollar Tree were up as the company made strong gains in same-store sales and earnings per share.
Dollar Tree recently celebrated its 15,000th store opening with additional discounts and promotions at its Dollar Tree and Family Dollar stores, along with grand opening celebrations at select new stores across the country.
While below Wall Street estimates, Dollar Tree produced positive fourth quarter and fiscal year results, with sales increasing and earnings benefiting from the government tax reform.
Dollar Tree’s discount variety store mix picked up the pace in the third quarter, accelerating comparable store sales and net sales growth.
As part of a planned leadership succession, Dollar Tree said that Bob Sasser, the company’s CEO since 2004, will now assume the role of executive chairman of the board. Gary Philbin, enterprise president, has been promoted to president and chief executive officer and has been appointed to the board of directors.
Dollar Tree delivered a positive second quarter, with a rise in net sales, comps and net income.
Dollar Tree has promoted Michael Witynski to president and chief operating officer of its Dollar Tree retail segment.
First quarter sales at Dollar Tree were up mid single-digits as comparable store sales growth at the company’s Dollar Tree banner was key to driving sales.
The United States Federal Trade Commission has issued a bulletin seeking public comment on an application for approval by Sycamore Partners II regarding the sale of 330 Dollar Express stores formerly owned by Family Dollar to Dollar General Corp.
For the fourth quarter ended January 28, Dollar Tree saw earnings, post-merger with Family Dollar, jump to $321.8 million, or $1.36 per diluted share, from $229 million or 97 cents per diluted share, in the year-prior period.
Dollar Tree has promoted Gary Philbin to enterprise president and appointed Duncan Mac Naughton as president and chief operating officer of the Family Dollar business.
The continued integration of Family Dollar seems to be paying off for Dollar Tree, which reported positive results for its third quarter.
In the second quarter, Dollar Tree gained as it continued to integrate Family Dollar into its operations, although slower comp sales did not meet the market’s expectations.
Dollar Tree is eliminating 370 positions, including 100 that are vacant, as part of the retailer’s ongoing efforts to integrate support functions following its acquisition of Family Dollar. The positions are located at the Family Dollar store support center in Matthews, NC.
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