Please forward this error screen to 203. North America’s leading operator of discount variety stores, today reported results for its first fiscal quarter ended April 29, 2017. I am extremely pleased with the first quarter performance of sg dollar to us dollar Dollar Tree banner and with the continued progress in re-building the Family Dollar business,” stated Bob Sasser, Chief Executive Officer.
Same-store sales were positive and total sales were near the mid-point of our range of guidance. 09 billion in the prior year’s first quarter. The same-store sales growth was driven by increases in average ticket and comparable transaction count. Same-store sales for the Dollar Tree banner increased 2. Same-store sales for the Family Dollar banner decreased 1.
55 billion in the prior year’s first quarter. As a percent of sales, gross margin increased to 30. The improvement was driven primarily by lower merchandise and freight costs, partially offset by higher markdowns. Selling, general and administrative expenses were 23. Excluding the receivable impairment charge described below, selling, general and administrative expenses were 22. The increase, as a percentage of sales, was driven primarily by higher payroll expenses and advertising expenses, partially offset by lower depreciation. In the first quarter of 2017, the Company evaluated the collectability of its divestiture-related receivable from Dollar Express, which acquired the stores that the FTC required the Company to divest.
Dollar Express is in the process of liquidating, is in default of its obligations to the Company including its obligation to pay the receivable, and is not cooperating. Operating income, including the receivable impairment charge, decreased 7. Excluding the receivable impairment charge, adjusted operating income increased 5. 7 million in the same period last year.
Adjusted operating income margin improved to 8. The Company’s effective tax rate for the quarter was 36. 09 to earnings per share last year. 98 in the prior year’s quarter. 09 per share related to state tax planning. During the quarter, the Company opened 164 stores, expanded or relocated 51 stores, and closed 16 stores.
Retail selling square footage at quarter-end was approximately 113. 28 billion, based on a slightly positive to low single-digit increase in same-store sales for the combined enterprise. This estimate is based on a slightly positive to low single-digit increase in same-store sales and 3. Sasser added, “I believe we are squarely positioned in the most attractive sector of retail. Value and convenience are important to our shoppers, and that is exactly what our Dollar Tree and Family Dollar businesses are focused on providing. On Thursday, May 25, 2017, the Company will host a conference call to discuss its earnings results at 9:00 a. The telephone number for the call is 800-310-1961.
A recorded version of the call will be available until midnight Wednesday, May 31, 2017 and may be accessed by dialing 888-203-1112. Dollar Tree, a Fortune 200 Company, operated 14,482 stores across 48 states and five Canadian provinces as of April 29, 2017. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. A WARNING ABOUT FORWARD-LOOKING STATEMENTS: Our press release contains “forward-looking statements” as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events, developments or results and typically use words such as believe, anticipate, expect, intend, plan, forecast, or estimate. Stores are included as rebanners when they close or open, respectively. The January 28, 2017 information was derived from the audited consolidated financial statements as of that date.
Non-GAAP financial measures should not be used as a substitute for GAAP financial measures, or considered in isolation, for the purposes of analyzing operating performance, financial position or cash flows. Dollar Express is in the process of liquidating, is in default of its obligations to the Company, including its obligation to pay the receivable, and is not cooperating. Jump to navigation Jump to search “SGD” redirects here. Without proper rendering support, you may see question marks or boxes, misplaced vowels or missing conjuncts instead of Tamil script. It is divided into 100 cents.
As of 2016, the Singapore dollar is the twelfth-most traded currency in the world by value. Between 1845 and 1939, Singapore used the Straits dollar. Singapore continued to use the common currency upon joining Malaysia in 1963, but only two years after Singapore’s expulsion and independence from Malaysia in 1965, the monetary union between Malaysia, Singapore and Brunei broke down. This peg lasted until the demise of the Sterling Area due to the Nixon Shock in the early 1970s, after which the Singaporean dollar was linked to the US dollar for a short time. Before 1970, the various monetary functions associated with a central bank were performed by several government departments and agencies. As Singapore progressed, the demands of an increasingly complex banking and monetary environment necessitated streamlining the functions to facilitate the development of a more dynamic and coherent policy on monetary matters. Singapore’s major trading partners and competitors.