美元树 2025年度报告

DOLLAR TREE, INC. Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Table of Contents Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting Large accelerated filerNon-accelerated filer Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public ☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). The aggregate market value of common stock held by non-affiliates of the registrant on August1, 2025, the last business day of theregistrant’s most recently completed second fiscal quarter, was $21,898,064,491, based upon the closing sale price for the registrant’scommon stock on such date. For purposes of this computation, all executive officers and directors have been deemed to be affiliates. Such On March12, 2026, there were197,298,217 shares of the registrant’s common stockoutstanding. DOCUMENTS INCORPORATED BY REFERENCE The information called for in Items 10, 11, 12, 13 and 14 of Part III, to the extent not set forth herein, is incorporated by reference tothe definitive Proxy Statement for the 2026 Annual Meeting of Stockholders, which will be filed with the Securities and Exchange PART I Item 1.BusinessItem 1A.Risk FactorsItem 1B.Unresolved Staff CommentsItem 1C.CybersecurityItem 2.PropertiesItem 3.Legal ProceedingsItem 4.Mine Safety Disclosures PART II PART III Item 10.Directors, Executive Officers and Corporate Governance Table of Contents Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K contains “forward-looking statements” as that term is used in the Private Securities LitigationReform Act of 1995. Forward-looking statements can be identified by the fact that they address future events, developments and resultsand do not relate strictly to historical facts. Any statements contained herein that are not statements of historical facts may be deemed to beforward-looking statements. Forward-looking statements include, without limitation, statements preceded by, followed by or including •Our plans and expectations regarding our current and future strategic initiatives, including our operational strategy for DollarTree as a standalone business following the sale of Family Dollar; •Our merchandising plans and initiatives and related impacts, including those regarding multi-price offerings and productassortment; •Our cost management initiatives, including our mitigation strategies to offset the impact of cost pressures and inflation, and the •Our management of operating expenses and long-term approach to managing selling, general and administrative expenses; •Our plans to add, refresh and renovate stores, including our expectations regarding the build-out of new stores, the renovationof existing stores, our leasing strategy for future expansion, and our ability to renew leases at existing store locations; •Our initiatives to improve store standards, operations and execution, and optimize and modernize stores and shelf space; •Our customer connection, the in-store experience, and our customers’ response to our prod