NEW YORK, April 5, 2019 /PRNewswire/ — Starboard Value LP (together with its affiliates, “Starboard”), a shareholder of Dollar Tree, Inc. (“Dollar Tree”, or the “Company”), issued a statement today on its investment in Dollar Tree.
“We are pleased that Dollar Tree has announced its intention to perform a significant test of multiple price points at Dollar Tree stores. In addition, management appears to have conviction that its proposed turnaround plan at Family Dollar is finally gaining traction as evidenced by greater than 10% comparable store sales at remodeled stores. We continue to enjoy constructive conversations with management and recognize their progress, as well as the significant increase in shareholder value based on the promises made since our involvement. As such, Starboard has decided to withdraw its nomination of director candidates for election at the 2019 Annual Meeting. We believe there is a substantial opportunity for further value creation, and we look forward to a continued dialogue and monitoring of the Company’s progress on the implementation of a well-designed test of a multi-price point offering at Dollar Tree stores and continued improvement in the operating performance of Family Dollar.”
Peter Feld, (212) 201-4878
Tom Cusack, (212) 201-4814
SOURCE Starboard Value LP