Inventory Turnover › By Retailer › Dollar Tree
Dollar Tree Inventory Turnover: Standalone After Family Dollar
Dollar Tree, Inc. (DLTR) turned its inventory 4.8x in fiscal 2025 (52 weeks ended January 31, 2026), up from 4.4x the year before. These are continuing-operations figures for the Dollar Tree banner alone, after the company sold Family Dollar in July 2025. All figures are from the company's 10-K filings on SEC EDGAR.
Quick answer: Dollar Tree's fiscal 2025 and 2024 10-K inventory turnover ratio
Fiscal 2025 (10-K)
4.8x for the 52 weeks ended January 31, 2026. $12,345.0M cost of sales over $2,583.7M average inventory ($2,672.0M opening, $2,495.4M closing). About 76 days on hand.
Fiscal 2024 (10-K)
4.4x for the 52 weeks ended February 1, 2025. $11,284.1M cost of sales over $2,583.9M average inventory. About 84 days on hand.
Turnover = cost of sales / average inventory (mean of opening and closing balance-sheet merchandise inventory), continuing operations only. Figures from Dollar Tree's 10-K filings on SEC EDGAR (CIK 0000935703), verified 10 November 2026.
Fiscal 2024 - fiscal 2025 turnover history (continuing operations)
| Fiscal Year | Cost of Sales | Inv (start) | Inv (end) | Turnover | Days on Hand |
|---|---|---|---|---|---|
| FY2024 (ended Feb 1, 2025) | $11,284.1M | $2,495.8M | $2,672.0M | 4.4x | 84 |
| FY2025 (ended Jan 31, 2026) | $12,345.0M | $2,672.0M | $2,495.4M | 4.8x | 76 |
Inventory (start) equals the prior year's inventory (end); the fiscal 2024 opening balance is the restated February 3, 2024 figure that excludes Family Dollar. Years before fiscal 2024 are not shown because the filed figures include Family Dollar and cannot be compared with the standalone business.
4.4x · Dollar Tree stores only, with Family Dollar already held for sale. Year-end inventory rose 7% to $2.67B, holding turnover at 4.4x.
4.8x · The first year as a standalone banner. Cost of sales rose 9% while year-end inventory fell 7%, lifting turnover to 4.8x and cutting eight days of stock.
Why the ratio starts in fiscal 2024
On July 5, 2025 Dollar Tree completed the sale of the Family Dollar business to 1959 Holdings, LLC. The 10-K puts total cash generated from the sale at about $793 million, made up of about $680 million of net proceeds and about $113 million released by running down working capital before the sale closed.
Family Dollar was classified as held for sale in the fourth quarter of fiscal 2024, and from then on its results are reported as discontinued operations. That splits the filing history in two. Fiscal 2024 and fiscal 2025 show the Dollar Tree banner on its own; every earlier 10-K combines two chains with very different formats. Inventory alone shows the size of the break: $5.45B at January 2023 with Family Dollar, $2.50B for Dollar Tree a year later.
A turnover series that ran across the sale would mostly measure the change in what the company owned, not how well it ran its stores. So this page starts where the comparable figures start, and the history will lengthen with each new 10-K.
What moved Dollar Tree from 4.4x to 4.8x
1. Clearing slow-turning lines
The 10-K ties the fiscal 2025 inventory reduction to a strategic initiative to increase shelf space productivity. Higher markdowns that year included a $56.0M write-off of slow-turning SKUs. Removing slow lines cuts the inventory balance and gives their shelf space to items that sell faster.
2. Sales growth on less stock
Net sales rose 10.4% to $19.4B, from a 5.3% comparable store sales increase plus $1.4B at non-comparable stores, while year-end inventory fell 7%. More sales through a smaller stock position is the definition of a faster turn.
3. Multi-price on top of $1.25
Alongside its $1.25 price point, Dollar Tree is expanding multi-price offerings for a broader assortment. The 10-K attributes the rise in average ticket primarily to targeted retail price changes in the second and third quarters. Higher-priced items carry more sales and more cost per unit, so the same shelf moves more dollars through the year.
4. A variety-store assortment
Dollar Tree describes a balance of everyday basics, which it tries to keep in stock continuously, supplemented by seasonal, closeout and promotional merchandise. Seasonal and party lines sell in bursts and hold stock between peaks, which is part of why a dollar store turns well below a grocer.
Where 4.8x sits among retailers
Latest 10-K inventory turnover, times per year
Each figure is cost of sales over average inventory from the company's latest 10-K. Every retailer here has its own case study; the full ranked list is on the inventory turnover by retailer page.
Dollar Tree now turns a little faster than Dollar General (4.5x), its closest public comparison, and ahead of Five Below (4.0x). All three sit well below the mass merchants: Walmart turned 9.3x and Target 6.0x in their latest fiscal years. A dollar store's seasonal, party and variety lines hold more days of stock than the grocery-heavy mix that drives a supercenter's turnover.
The fiscal 2025 improvement is worth watching rather than banking. One year of data on a new reporting basis shows direction, not a trend. The next 10-K will show whether 76 days on hand holds once the slow-SKU write-off is behind the company. For the closest comparison see the Dollar General case study.
Frequently asked questions
What is Dollar Tree's inventory turnover ratio?
Dollar Tree turned its inventory 4.8x in fiscal 2025, the 52 weeks ended January 31, 2026. That is $12,345.0M of cost of sales divided by $2,583.7M average merchandise inventory (the mean of the $2,672.0M opening and $2,495.4M closing balances) from its 10-K, on a continuing-operations basis that excludes Family Dollar. It works out to about 76 days of inventory on hand.
Why does this page only show two years?
Dollar Tree sold Family Dollar to 1959 Holdings, LLC on July 5, 2025, and has reported Family Dollar as a discontinued operation since it was classified as held for sale in the fourth quarter of fiscal 2024. Only fiscal 2024 and fiscal 2025 are filed on a Dollar Tree-only basis. Earlier 10-Ks combine both chains: inventory at January 28, 2023 was $5,449.3M including Family Dollar, against $2,495.8M for Dollar Tree alone a year later. Mixing the two would show a turnover change that is really a change in what the company owned.
How is Dollar Tree's inventory turnover calculated from the 10-K?
Divide cost of sales by average inventory, where average inventory is the mean of the opening and closing merchandise-inventory balances on the balance sheet. Dollar Tree values distribution-centre inventory at weighted-average cost and store inventory using the retail inventory method on a weighted-average basis. For fiscal 2025: $12,345.0M / (($2,672.0M + $2,495.4M) / 2) = 4.8x.
Why did Dollar Tree's turnover improve in fiscal 2025?
Sales grew while stock came down. Net sales rose 10.4% to $19.4B on a 5.3% comparable store sales increase and new stores, but year-end inventory fell 7%. The 10-K ties the inventory reduction to a strategic initiative to increase shelf space productivity, which also included a $56.0M write-off of slow-turning SKUs taken through markdowns. Clearing slow lines lowers the inventory balance directly, and the shelf space they free goes to items that sell faster.
Related
Dollar General Case Study
The rural dollar-store comparison, at 4.5x.
Five Below Case Study
The fast-growing value chain, at 4.0x.
Walmart Case Study
The supercenter benchmark, at 9.3x.
Turnover by Retailer
All 25 retailers ranked.
Days Sales of Inventory
Turn 4.8x into 76 days on hand.
Sell-Through Rate
How slow-turning SKUs get spotted.