Dollar Tree Provides Post-Tornado Update on Distribution Center in Marietta, Oklahoma
April 30 2024 - 7:30AM
Business Wire
Confirms no associates were injured at the
facility and the Company is providing recovery support
Taking immediate actions to limit disruption to
business operations and customer experience
Dollar Tree, Inc. (NASDAQ: DLTR) today announced that late in
the evening of April 27, 2024, a series of powerful tornados struck
Oklahoma and caused significant damage to the one million square
foot Dollar Tree distribution center located in Marietta.
The Company can confirm that none of the 456 associates who are
employed at the Marietta distribution center were injured at the
facility. Dollar Tree is also supporting local associates through
the business recovery process, including temporary work relocation,
well-being resources and access to the Company’s Associate Relief
Fund. The Company is also partnering with the American Red Cross to
help support immediate community needs.
“We are deeply grateful that no one at our facility was injured
during the storm, and our thoughts are with the entire community at
this time. Our people are our highest priority, and we are reaching
out to every one of our local associates to check in on their
well-being and ensure they are aware of the support in-place for
them and the surrounding community as part of our recovery
efforts,” said Rick Dreiling, Chairman and Chief Executive Officer,
Dollar Tree, Inc.
Currently, there are no reports of damage to any Dollar Tree or
Family Dollar retail stores in the region, and we are focused on
keeping those stores supplied to support the needs of our local
customers. The Company reacted swiftly to maintain distribution
operations following the storm and immediately pivoted its network
to deliver product to the approximately 600 Marietta-serviced
Dollar Tree stores. The Company expects that these efforts will
limit disruption to the Dollar Tree shopping experience.
The Company’s distribution center insurance policies include
significant property and inventory coverage. At this time, the
Company is assessing the value of all potential claims and
anticipates the majority of Company damages and recovery costs to
be covered under its current policies.
Mike Kindy, Chief Supply Chain Officer, Dollar Tree, Inc.,
continued: “We run a high performing distribution network and have
activated our other distribution centers to support our stores in
the region. We will continue to manage through the near-term
challenges associated with this event and are confident in our
ability to continue to meet our customers’ expectations and operate
our business.”
About Dollar Tree, Inc.
Dollar Tree, a Fortune 200 Company, operated 16,774 stores
across 48 states and five Canadian provinces as of February 3,
2024. Stores operate under the brands of Dollar Tree, Family
Dollar, and Dollar Tree Canada. To learn more about the Company,
visit www.DollarTree.com.
A WARNING ABOUT FORWARD-LOOKING STATEMENTS: This press
release contains "forward-looking statements" as that term is used
in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by the fact that they
address future events, developments or results and do not relate
strictly to historical facts. Any statements contained in this
press release that are not statements of historical fact may be
deemed to be forward-looking statements. Forward-looking statements
include, without limitation, statements preceded by, followed by or
including words such as: “believe”, “anticipate”, “expect”,
“intend”, “plan”, “view”, “target” or “estimate”, “may”, “will”,
“should”, “predict”, “possible”, “potential”, “continue”,
“strategy”, and similar expressions. For example, our
forward-looking statements include statements relating to our
expectations regarding the impact of severe weather on our stores,
distribution network and business and our expectations concerning
insurance coverage. These statements are subject to risks and
uncertainties. For a discussion of the risks, uncertainties and
assumptions that could affect our future events, developments or
results, you should carefully review the “Risk Factors,” “Business”
and “Management's Discussion and Analysis of Financial Condition
and Results of Operations” sections in our Annual Report on Form
10-K filed March 20, 2024, and other filings we make from time to
time with the Securities and Exchange Commission. We are not
obligated to release publicly any revisions to any forward-looking
statements contained in this press release to reflect events or
circumstances occurring after the date of this report and you
should not expect us to do so.
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version on businesswire.com: https://www.businesswire.com/news/home/20240429012045/en/
Media: Kate Kirkpatrick VP, Communications
mediainquiries@dollartree.com Investors: Robert A. LaFleur
SVP, Investor Relations investorinfo@dollartree.com
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