Dollar Tree 4Q Same-Store Sales Edge Up
Chesapeake, Va., Dollar Tree Stores Inc. said total sales in the fourth quarter rose 10.6% to $987.5 million, missing analysts’ estimates for sales of $995.4 million. The company said business accelerated in December but fell in January due to severe winter weather. Same-store sales for the period rose 0.5%.
Dollar Tree said that based on fourth-quarter sales volume, it expects to report earnings of 78? to 79? a share, up from 70? posted a year ago.
For fiscal 2004, sales rose 11.6% to $3.13 billion, which was in line with analysts’ estimates. Same-store sales increased 0.5%.
Carrefour CEO Ousted in Shakeup
New York City, Carrefour today removed chairman and CEO Daniel Bernard, who led the company for 13 years and faced pressure to boost the chain’s French mega stores. The company appointed Luc Vandevelde, former head of Marks & Spencer, as non-executive chairman. Also departing during a management shakeup was Joel Saveuse, who has been Carrefour’s head of European operations for less than two months.
Tractor Supply Shows Strong Q4 Growth
Brentwood, Tenn., Tractor Supply Co.’s net income for the fourth quarter ended Dec. 25 increased 32% to $22.3 million. Net sales for the quarter increased 17.4% to $456 million from $388.5 million last year. Same-store sales increased 7.7% vs. last year’s 9.6% gain.
“We are optimistic about 2005,” said president and CEO Jim Wright. “We are taking actions that we believe will support our growth, including continuing to invest in distribution capacity and systems, and executing our store rollout plan.”
For the fiscal year, net sales increased 18.1% to $1,738.8 million and same-store sales increased 9.9%. Net income for fiscal 2004 increased 15.8% to $65.4 million.