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August 21, 2014
09:26 EDTFDO, DLTRDollar Tree says 'committed' to transaction with Family Dollar
Says looks forward to completing transaction with Family Dollar (FDO) "as soon as possible." Says experienced strongest comps in quarter in July. Says comps continued to improve throughout the quarter. Says opening plan on track for the FY, sees 450 projects across the U.S. and Canada. Sees opening 375 new stores this year. Sees FY14 square footage up 7% over FY13. Sees Canadian market able to support up to 1,000 stores, sees 7,000 store potential for Dollar Tree in the U.S. Sees improvement in inventory turns for FY. Sees FY CapEx $360M-$370M, focused on new stores and remodels. Sees freight costs as a meaningful headwind to gross margins. Sees product margins remaining under pressure. Says acquisition costs tough to estimate. Says consumer continues to be under pressure.
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