Dollar Tree ended Fiscal 2024 with the sale of Family Dollar agreed upon and a renewed focus on its core brand. The Family Dollar results are reported as discontinued operations and the business is expected to be sold for $1.007 billion with net proceeds of approximately $804 million and expected tax benefits of about $350 million. The transaction is expected to close in approximately 90 days.

Q4 Fiscal 2024 highlights (continuing operations):

- Net sales were $5.0 billion, an increase of 0.7 percent
- Same-store sales at Dollar Tree grew 2.0 percent (with traffic up 0.7 percent and ticket up 1.3 percent)
- Operating income was $534 million, down 26.5 percent
- Operating margin was 10.7 percent, down 390 basis points
- Diluted EPS from continuing operations was $1.86, down 23.8 percent
- Adjusted EPS from continuing operations was $2.11, down 15.3 percent
- Adjusted operating income was $628 million, down 15.2 percent

Full-year Fiscal 2024 (continuing operations):

- Net sales reached $17.6 billion, a 4.7 percent increase
- Same-store sales rose 1.8 percent (driven by a 1.6 percent rise in traffic)
- Operating income decreased 17.6 percent to $1.46 billion
- Operating margin fell to 8.3 percent from 10.6 percent
- Adjusted EPS was $5.10, down from $5.81 in the prior year
- Free cash flow from continuing operations was $893 million
- The company repurchased 3.3 million shares for $404 million

Family Dollar (discontinued operations):

- Reported a Q4 net loss of $4.1 billion, largely due to a $3.4 billion write-down and a $1.9 billion trade name impairment
- Full-year loss was also $4.1 billion
- Adjusted EPS contribution from discontinued operations was $0.18

Fiscal 2025 outlook (continuing operations):

- Net sales expected between $18.5 billion and $19.1 billion, with same-store sales growth of 3 to 5 percent
- Adjusted EPS forecast between $5.00 and $5.50, including a $0.30 to $0.35 negative impact from partial-year TSA reimbursements
- First quarter sales expected between $4.5 billion and $4.6 billion
- First quarter adjusted EPS expected between $1.10 and $1.25

Strategic actions:

- Opened 525 new Dollar Tree stores in fiscal 2024
- Total of 2,900 Dollar Tree 3.0 multi-price format stores now in operation
- Entered a new $1.5 billion revolving credit facility with JPMorgan
- Full attention is now directed at Dollar Tree’s growth and operational performance post-divestiture of Family Dollar