Quarterly report pursuant to Section 13 or 15(d)

Segments (Tables)

v3.20.2
Segments (Tables)
9 Months Ended
Oct. 31, 2020
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Information for our segments, as well as for Corporate, support and Other, including the reconciliation to Income before income taxes, is as follows:
 
 
13 Weeks Ended
 
39 Weeks Ended
 
 
October 31,
 
November 2,
 
October 31,
 
November 2,
(in millions)
 
2020
 
2019
 
2020
 
2019
Condensed Consolidated Income Statement Data:
 
 
 
 
 
 
 
 
Net sales:
 
 
 
 
 
 
 
 
Dollar Tree
 
$
3,303.2

 
$
3,074.3

 
$
9,557.6

 
$
8,991.4

Family Dollar
 
2,873.5

 
2,671.9

 
9,183.5

 
8,304.1

Corporate, support and Other
 
0.3

 

 
0.3

 

Consolidated Net sales
 
$
6,177.0

 
$
5,746.2

 
$
18,741.4

 
$
17,295.5

 
 
 
 
 
 
 
 
 
Gross profit:
 
 
 
 
 
 
 
 
Dollar Tree
 
$
1,154.2

 
$
1,050.5

 
$
3,206.8

 
$
3,070.8

Family Dollar
 
769.9

 
654.0

 
2,428.4

 
2,009.4

Corporate, support and Other
 
0.3

 

 
0.3

 

Consolidated Gross profit
 
$
1,924.4

 
$
1,704.5

 
$
5,635.5

 
$
5,080.2

 
 
 
 
 
 
 
 
 
Operating income (loss):
 
 
 
 
 
 
 
 
Dollar Tree
 
$
417.9

 
$
374.6

 
$
1,006.5

 
$
1,105.9

Family Dollar
 
131.4

 
55.2

 
472.0

 
163.9

Corporate, support and Other
 
(83.8
)
 
(71.4
)
 
(272.2
)
 
(257.0
)
Consolidated Operating income
 
465.5

 
358.4

 
1,206.3

 
1,012.8

Interest expense, net
 
38.1

 
41.4

 
113.1

 
122.9

Other expense, net
 
0.1

 
0.1

 
0.8

 
0.7

Income before income taxes
 
$
427.3

 
$
316.9

 
$
1,092.4

 
$
889.2

 
 
As of
 
 
October 31,
 
February 1,
 
November 2,
(in millions)
 
2020
 
2020
 
2019
Condensed Consolidated Balance Sheet Data:
 
 
 
 
 
 
Goodwill:
 
 
 
 
 
 
Dollar Tree
 
$
423.6

 
$
423.8

 
$
421.6

Family Dollar
 
1,559.5

 
1,559.5

 
1,874.9

Consolidated Goodwill
 
$
1,983.1

 
$
1,983.3

 
$
2,296.5

 
 
 
 
 
 
 
Total assets:
 
 
 
 
 
 
Dollar Tree
 
$
8,467.4

 
$
7,694.0

 
$
7,531.0

Family Dollar
 
11,703.0

 
11,484.9

 
11,858.3

Corporate, support and Other
 
481.8

 
395.7

 
352.8

Consolidated Total assets
 
$
20,652.2

 
$
19,574.6

 
$
19,742.1

 
 
 
 
 
 
 

*Goodwill is reassigned between segments when previously acquired stores are re-bannered between segments. The goodwill related to previously acquired re-bannered stores in the 39 weeks ended October 31, 2020 was not material. In the 39 weeks ended November 2, 2019, we reassigned $45.2 million of goodwill from Family Dollar to Dollar Tree as a result of re-bannering.
Disaggregation of Revenue
The following table summarizes net sales by merchandise category for our segments:
 
 
13 Weeks Ended
 
39 Weeks Ended
 
 
October 31,
 
November 2,
 
October 31,
 
November 2,
(in millions)
 
2020
 
2019
 
2020
 
2019
Dollar Tree segment net sales by
    merchandise category:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumable
 
$
1,564.1

 
47.4
%
 
$
1,555.8

 
50.6
%
 
$
4,778.8

 
50.0
%
 
$
4,567.6

 
50.8
%
Variety
 
1,520.9

 
46.0
%
 
1,328.3

 
43.2
%
 
4,473.0

 
46.8
%
 
4,127.1

 
45.9
%
Seasonal
 
218.2

 
6.6
%
 
190.2

 
6.2
%
 
305.8

 
3.2
%
 
296.7

 
3.3
%
Total Dollar Tree segment net sales
 
$
3,303.2

 
100.0
%
 
$
3,074.3

 
100.0
%
 
$
9,557.6

 
100.0
%
 
$
8,991.4

 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Family Dollar segment net sales by
    merchandise category:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumable
 
$
2,255.7

 
78.5
%
 
$
2,133.9

 
79.9
%
 
$
7,077.5

 
77.1
%
 
$
6,481.1

 
78.0
%
Home products
 
240.1

 
8.3
%
 
196.3

 
7.3
%
 
802.7

 
8.7
%
 
642.6

 
7.7
%
Apparel and accessories
 
157.4

 
5.5
%
 
144.0

 
5.4
%
 
517.8

 
5.6
%
 
494.3

 
6.0
%
Seasonal and electronics
 
220.3

 
7.7
%
 
197.7

 
7.4
%
 
785.5

 
8.6
%
 
686.1

 
8.3
%
Total Family Dollar segment net sales
 
$
2,873.5

 
100.0
%
 
$
2,671.9

 
100.0
%
 
$
9,183.5

 
100.0
%
 
$
8,304.1

 
100.0
%