Activist investor Starboard Value, which has pushed for changes at Dollar Tree, has decided to withdraw its slate of nominees for election to Dollar Tree’s board of directors at the 2019 annual meeting of shareholders.
Dollar Tree has appointed Carrie Wheeler as a new independent director to the company’s board of directors.
Dollar Tree reported solid sales in its fourth quarter, while ramping up its Family Dollar integration and turnaround plans, which includes store closings this year.
Dollar Tree is planning a new distribution center project in Rosenberg, Fort Bend County, TX.
Dollar stores are seeing growth in shopper traffic during the holiday season with shoppers from higher income levels driving the growth, according to a recent survey from The NPD Group.
Dollar Tree has appointed Thomas Dickson as a new independent director to the company’s board, effective January 1, 2019. Dickson’s appointment is to fill the vacancy created by the previously announced retirement of Mary Anne Citrino as a director.
Pressured by freight and other cost increases, Dollar Tree managed to grow its net sales and income, although comps slipped at the company’s Family Dollar banner.
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.