Chesapeake, Virginia, June 5, 2024–(BUSINESS WIRE)–Dollar Tree, Inc. (NASDAQ: DLTR) today announced that it has begun a formal review of strategic options for its Family Dollar division, which may include a sale, spin-off or other disposition of the business.
“Dollar Tree has been working for several years to help the company realize its full potential,” said Rick Dreiling, chairman and chief executive officer, Dollar Tree, Inc. “Last year, we announced a comprehensive review of the Family Dollar portfolio, which included plans to close approximately 970 underperforming Family Dollar stores with a focus on increased investment in the remaining Family Dollar stores to provide long-term growth and transformation opportunities with a more attractive return on capital. We are already beginning to see progress on this targeted strategy with a streamlined Family Dollar brand. At the same time, we continue to aggressively grow the Dollar Tree brand through attractive initiatives, including expanded multi-price offerings, significant new store opening plans across the United States and revenue-accelerating transactions, such as our recent successful bid to acquire up to 170 stores from 99 Cents Only. The unique needs of each brand at this time – transforming Family Dollar and accelerating Dollar Tree's growth – have led us to thoroughly review our strategic options for the Family Dollar business.” “Our goal is to move both the Dollar Tree and Family Dollar brands forward, faster, and to see where both brands can benefit from the special attention of a dedicated team, while also creating value for Dollar Tree shareholders and other stakeholders.”
Dollar Tree has not established any deadline or definitive timeline for the completion of its strategic alternatives review process, and there can be no assurance that this process will result in any transaction or any particular outcome. The Company does not intend to comment further until the Board of Directors has approved a particular course of action or the Company determines further disclosure is appropriate or necessary.
Dollar Tree has retained J.P. Morgan Securities LLC as financial advisor and Davis Polk & Wardwell LLP as legal advisor to assist with the review.
About Dollar Tree, Inc.
Dollar Tree, a Fortune 200 company, operates 16,397 stores in 48 states and five Canadian provinces as of May 4, 2024. Stores operate under the Dollar Tree, Family Dollar and Dollar Tree Canada brands. To learn more about the company, please visit www.DollarTree.com.
Caution Regarding Forward-Looking Statements: This document contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the fact that they address future events, developments or results and do not relate strictly to historical facts. Statements contained in this document other than statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include, but are not limited to, statements preceded by, followed by or including words such as “anticipate,” “seem,” “assume,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “may,” “plan,” “project,” “seek,” “should,” “strategy,” “will,” “can,” “could,” “predict,” “possible,” “future,” “potential,” “see,” “build,” “focus,” “create,” “work,” “continue,” “target,” “poised,” “advance,” “drive,” “objective,” “approach,” “pursue,” “schedule,” “position,” “seek,” “progress,” “budget,” “outlook,” “trend,” “guidance,” “commit,” “on track,” “objectives,” “goals,” “opportunities,” “ambition,” “view,” “aspire,” and the negative of such words and terms and variations thereof. Other words or terms of similar meaning or importance in connection with discussions of future plans, actions, events or operational, financial or other performance identify forward-looking statements. These statements are subject to risks and uncertainties. For a discussion of risks, uncertainties and assumptions that may affect the Company's future events, developments or results, please carefully review the sections “Risk Factors,” “Business” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in the Company's Annual Report on Form 10-K filed on March 20, 2024, and other documents the Company files from time to time with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made, and the Company is under no obligation to publicly revise any forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this report, nor should you expect that the Company will do so. It is not possible to identify all risks, uncertainties and other factors that may affect future results. In light of these risks and uncertainties, the forward-looking events or circumstances described herein may not occur and actual results may differ materially from those anticipated or implied in the forward-looking statements. Readers are therefore cautioned not to place undue reliance on forward-looking statements.
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contact address
Investor:
Robert A. LaFleur
Senior Vice President, Investor Relations
investors@dollartree.com
media:
Kate Kirkpatrick
Vice President of Communications
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