| FORTUNE LISTS DOLLAR TREE STORES IN TOP 100 FASTEST-GROWING COMPANIES CHESAPEAKE, VA -- September 10, 1998 -- Dollar Tree Stores, Inc. (OTC:DLTR) which just opened its 1,000th store, has been ranked in the Top 100 of America's fastest growing companies by Fortune magazine. The list, which appears in the September 28th issue of the publication, places Dollar Tree at number 93 with a 58% earnings per share annual growth rate.Dollar Tree Stores was the only extreme value retailer to make the list. The company operates in 28 states and has over 11,000 employees. The rankings were compiled from research by Zacks Investment Research which looked at earnings-per-share growth over three years. No company could make the list if it had a loss over the past four quarters or an annual revenue growth of less than 30%. Dollar Tree's 1997 sales topped $635 million, up 29% over 1996, producing a net income of $48.6 million. The only true "dollar store", it is the modern equivalent of a traditional variety store featuring housewares, seasonal goods, food, toys, health and beauty aids, stationery, hardware, gifts, books and consumables. All items in Dollar Tree Stores are priced at $1 or less. The company focuses on quality merchandise rather than closeout items. In July Dollar Tree Stores signed a definitive merger agreement with Sacramento-based Step Ahead Investments, Inc. which operates 62 "98ยข Clearance Centers" in California and Nevada. The transaction is valued in excess of $80 million and is expected to close by the end of 1998 |
FORTUNE LISTS DOLLAR TREE STORES IN TOP 100 FASTEST-GROWING COMPANIES
FORTUNE LISTS DOLLAR TREE STORES IN TOP 100 FASTEST-GROWING COMPANIES