When will Dollar Tree Inc (CIK: 935703; Nasdaq ticker: DLTR) publish an annual report of 53...

When will Dollar Tree Inc (CIK: 935703; Nasdaq ticker: DLTR) publish an annual report of 53 weeks' financial results?

Why will the financial statements report 53 weeks instead of 52 weeks as intuitively we have a 52-week year.

Identify this balance sheet date for Dollar Tree Inc (must be a date after Feb 1, 2020 and closest to Feb 1, 2020).

Expert Solution

As we see Dollar Tree Inc (CIK: 935703; Nasdaq ticker: DLTR) fiscal year for reporting financial statements then we find that It reports its 53 weeks' financial results after every four years. It reported its 53 weeks' financial results in year 2007 then in year 2012 after this in year 2017. So, on the basis of this Dollar Tree Inc (CIK: 935703; Nasdaq ticker: DLTR) will report 53 weeks' financial results in year 2022.

Every organisation has a reporting period which can be month, quarter, or a year in which financial statements of a company are to be repoted. Organisations use same reporting period from year to year so as to make financial statements comparable.

Financial statements sometimes report 53 weeks instead of 52 weeks as intuitively we have a 52-week year. Generally, there are 365 days in a year. When we divide retail calender into 52 weeks each consisting of 7 days i.e. 364 days, leaves an extra day each year to be accounted for. As a result, every 5 to 6 years, a week is added to fiscal year.This is actually a method for managing accounting periods and generally used by both type of industries whether it is retail or manufacturing. Those companies uses this method of adding 53rd week who wants to end its fiscal year always on same day of week to make business closed easily and making inventory counting easily.

Dollar Tree Inc repoted its balance sheet and financial reports on Saturday Feb.1,2020 as it reports every year on saturday.

ekkarill92 answered 2 years ago

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