Dollar Tree (NASDAQ:DLTR) has provided an update following the impact of a series of powerful tornados on its distribution center in Marietta, Oklahoma, on April 27, 2024.
The company reported significant damage to the facility but confirmed that all 456 associates at the center were unharmed.
Efforts are underway to support the local associates and the community, including temporary work relocation and resources through the company’s Associate Relief Fund.
Chairman and Chief Executive Officer, Rick Dreiling stated, “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.”
Despite the damage, Dollar Tree anticipates minimal disruption to its operations and customer experience, thanks to quick action to redirect distribution to the affected stores from other centers.
The company also expects that its distribution center insurance will cover the majority of the damages and recovery costs.