DOLLAR TREE STORES, INC. REPORTS SALES OF $85.0 MILLION FOR THE FIRST QUARTER ENDING MARCH 31, 1996.NORFOLK Norfolk, cities, United States Norfolk (1, 2 nôr`fək; 2 nôr`fôk'). 1 City (1990 pop. 21,476), Madison co., NE Nebr., on the Elkhorn River; inc. 1881. , Va.--(BUSINESS WIRE)--April 3, 1996--Dollar Tree Stores, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :DLTR DLTR Duke Law and Technology Review ) reported sales for the quarter ended March 31, 1996, of $85.0 million. This represents an increase of $36.3 million, or 74.5%, over sales of $48.7 million during the same period last year. This increase in total sales is primarily attributable to new unit growth and the 136 Dollar Bill$ stores acquired on Jan. 31, 1996. The Dollar Bill$ stores contributed, for the two months included, $15.8 million to total sales. Comparable store sales increased 11.7% in Dollar Tree stores for the first quarter of 1996 over the first quarter of 1995. The acquired Dollar Bill$ stores are not included in Dollar Tree's comparable store sales. Comparable store sales were driven primarily by an earlier Easter Easter [A.S. Eastre, name of a spring goddess], chief Christian feast, commemorating the resurrection of Jesus after his crucifixion. In the West, Easter is celebrated on the Sunday following the full moon next after the vernal equinox (see calendar); thus, it shopping season and a strong in-stock position on seasonal and general merchandise. Dollar Tree previously announced that its Board of Directors approved a 50% stock dividend having the effect of a 3 for 2 stock split for shareholders of record on April 5, 1996. The new shares will be distributed on April 19, 1996. Dollar Tree Stores, Inc. is a discount variety store chain offering a wide assortment assortment /as·sort·ment/ (ah-sort´ment) the random distribution of nonhomologous chromosomes to daughter cells in metaphase of the first meiotic division. as·sort·ment n. of quality everyday general merchandise, in many traditional variety store categories, at the $1.00 price point. Dollar Tree Stores operates 660 stores in 26 states, including the 136 Dollar Bill$ stores acquired on Jan. 31, 1996. CONTACT: Dollar Tree Stores, Inc., Norfolk Ray Compton or Eric Coble Eric Coble is a playwright and screenwriter. He is a member of the Playwrights' Unit of the Cleveland Play House. Eric Coble was born in Edinburgh, Scotland and bred on the Navajo and Ute reservations in New Mexico and Colorado. , 804/857-4600 |
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