Dollar Tree, Inc. (NASDAQ:DLTR) Q4 2014 Earnings Conference Call - Final Transcript
Feb 25, 2015 • 09:00 am ET
excited about Dollar Tree's future. The Dollar Tree business model is powerful, flexible and more relevant than ever providing extreme value to customers, while recording record level of earnings. Our model has been tested by times and validated by history.
For seven consecutive years, quarter after quarter, Dollar Tree has delivered same-store sales increases of more than 1% every single quarter. Consumers are looking for value no matter the state of the economy. For six consecutive years, our annual gross margin rate has exceeded 35%. At Dollar Tree, we are in control of our gross margin rate, it's all about the mix and having an extremely disciplined approach to sourcing product for our stores. We've consistently delivered solid margin rates for both inflationary and deflationary cycles. Our expenses are managed effectively focused on overall returns.
And as a result of driving sales, managing margins and controlling expenses, we've delivered five consecutive years of double-digit operating margins that continue to lead the discount retail sectors. We've remain committed to the concept our customers love and we're positioned for continued profitable growth for many years ahead. We have a talented management team that has a long history of retail success and importantly with the addition of Family Dollar, we will be a bigger, stronger and more diversified business, better able to serve more customers and more markets with exactly what they're looking for great value.
So it's a great time to be Dollar Tree, our inventories are clean and fresh, the shelves are full of the right product for the first half of 2015 and our values have never been better.
Operator, we're now ready for questions.