Dollar Tree 10-Q: Q2 FY24 Financials Filed
Ticker: DLTR · Form: 10-Q · Filed: Sep 4, 2024 · CIK: 935703
| Field | Detail |
|---|---|
| Company | Dollar Tree, INC. (DLTR) |
| Form Type | 10-Q |
| Filed Date | Sep 4, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, retail
TL;DR
**Dollar Tree Q2 24 10-Q is IN. Check financials.**
AI Summary
Dollar Tree, Inc. filed its 10-Q for the period ending August 3, 2024. The company reported its financial performance and condition, including details on its balance sheet, income statement, and cash flows. Key financial data and operational updates are presented for the second quarter of fiscal year 2024.
Why It Matters
This filing provides investors with the latest financial performance data for Dollar Tree, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are routine financial reports, but the specific details within can reveal significant financial health indicators or operational challenges.
Key Players & Entities
- DOLLAR TREE, INC. (company) — Filer
- 20240803 (date) — Period of Report
- 20240904 (date) — Filed as of Date
- 500 VOLVO PARKWAY (location) — Business Address
- CHESAPEAKE (location) — City
- VA (location) — State
- 23320 (location) — ZIP Code
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240803, meaning the filing covers the period ending August 3, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on 20240904.
What is Dollar Tree, Inc.'s primary business address?
Dollar Tree, Inc.'s business address is 500 Volvo Parkway, Chesapeake, VA 23320.
What is the SEC file number for Dollar Tree, Inc.?
The SEC file number for Dollar Tree, Inc. is 000-25464.
What is the Standard Industrial Classification (SIC) code for Dollar Tree, Inc.?
The Standard Industrial Classification code for Dollar Tree, Inc. is 5331, which corresponds to RETAIL-VARIETY STORES.
Filing Stats: 4,698 words · 19 min read · ~16 pages · Grade level 7.8 · Accepted 2024-09-04 07:43:40
Filing Documents
- dltr-20240803.htm (10-Q) — 1043KB
- dltr-2024x08x03x10qxex311.htm (EX-31.1) — 9KB
- dltr-2024x08x03x10qxex312.htm (EX-31.2) — 9KB
- dltr-2024x08x03x10qxex321.htm (EX-32.1) — 5KB
- dltr-2024x08x03x10qxex322.htm (EX-32.2) — 5KB
- dltr-20240803_g1.gif (GRAPHIC) — 435KB
- 0000935703-24-000041.txt ( ) — 5517KB
- dltr-20240803.xsd (EX-101.SCH) — 21KB
- dltr-20240803_cal.xml (EX-101.CAL) — 45KB
- dltr-20240803_def.xml (EX-101.DEF) — 70KB
- dltr-20240803_lab.xml (EX-101.LAB) — 368KB
- dltr-20240803_pre.xml (EX-101.PRE) — 232KB
- dltr-20240803_htm.xml (XML) — 548KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited): Condensed Consolidated Income Statements 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Shareholders' Equity 7 Condensed Consolidated Statements of Cash Flows 9 Notes to Unaudited Condensed Consolidated Financial Statements 10
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 27
Controls and Procedures
Item 4. Controls and Procedures 28
—OTHER INFORMATION
PART II—OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 29
Risk Factors
Item 1A. Risk Factors 29
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 29
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 29
Other Information
Item 5. Other Information 29
Exhibits
Item 6. Exhibits 29
Signatures
Signatures 31 3 Table of Contents
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. DOLLAR TREE, INC. CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited) 13 Weeks Ended 26 Weeks Ended (in millions, except per share data) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Net sales $ 7,372.7 $ 7,320.1 $ 14,999.1 $ 14,639.6 Other revenue 6.1 5.2 12.5 9.5 Total revenue 7,378.8 7,325.3 15,011.6 14,649.1 Cost of sales 5,158.2 5,185.4 10,436.9 10,274.5 Selling, general and administrative expenses 2,017.5 1,852.1 3,951.0 3,667.1 Operating income 203.1 287.8 623.7 707.5 Interest expense, net 28.9 24.2 53.3 50.1 Other (income) expense, net — ( 0.1 ) 0.1 — Income before income taxes 174.2 263.7 570.3 657.4 Provision for income taxes 41.8 63.3 137.8 158.0 Net income $ 132.4 $ 200.4 $ 432.5 $ 499.4 Basic net income per share of common stock $ 0.62 $ 0.91 $ 2.00 $ 2.26 Diluted net income per share of common stock $ 0.62 $ 0.91 $ 2.00 $ 2.26 Weighted average common shares outstanding: Basic 215.0 220.1 216.4 220.6 Diluted 215.2 220.5 216.7 221.1 See accompanying Notes to Unaudited Condensed Consolidated Financial Statements. 4 Table of Contents DOLLAR TREE, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) 13 Weeks Ended 26 Weeks Ended (in millions) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Net income $ 132.4 $ 200.4 $ 432.5 $ 499.4 Foreign currency translation adjustments ( 3.4 ) 3.9 ( 5.4 ) 1.1 Total comprehensive income $ 129.0 $ 204.3 $ 427.1 $ 500.5 See accompanying Notes to Unaudited Condensed Consolidated Financial Statements. 5 Table of Contents DOLLAR TREE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in millions, except par value and share data) August 3, 2024 February 3, 2024 July 29, 2023 ASSETS Current assets: Cash and cash equivalents $ 570.3 $ 684.9 $ 512.7 Merchandise inventories 5,101.6 5,112.8 5,329.4 Other current assets 420.4 335.0 315.3 Total current assets 6,092.3 6,132.7 6,157.4 Restric
Legal Proceedings
Legal Proceedings We are defendants in ordinary, routine litigation or proceedings incidental to our business, including employment-related matters; infringement of intellectual property rights; personal injury/wrongful death claims; real estate matters; environmental and safety issues; and product safety matters. Legal proceedings may also include class, collective, representative and large cases and arbitrations, including those described below. We will vigorously defend ourselves in these matters. We do not believe that any of these matters will, individually or in the aggregate, have a material effect on our business, financial condition, or liquidity. We cannot give assurance, however, that one or more of these matters will not have a material effect on our results of operations for the quarter or year in which they are reserved or resolved. We assess our legal proceedings monthly and reserves are established if a loss is probable and the amount of such loss can be reasonably estimated. Many, if not substantially all, of our legal proceedings are subject to significant uncertainties and, therefore, determining the likelihood of a loss and the measurement of any loss can be complex and subject to judgment. With respect to the matters noted below where we have determined that a loss is reasonably possible but not probable, we are unable to reasonably estimate the amount or range of the possible loss at this time due to the inherent difficulty of predicting the outcome of and uncertainties regarding legal proceedings. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. Management's assessment of legal proceedings could change because of future determinations or the discovery of facts which are not presently known. Accordingly, the ultimate costs of