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Do They Sell Mean Green at Family Dollar

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American disbelieve variety concatenation

Dollar Tree, Inc.

Merchandise name

 Dollar Tree
Formerly
  • But $1.00
  • Dollar Tree Stores, Inc.
Blazon Public

Traded every bit
  • Nasdaq: DLTR
  • NASDAQ-100 component
  • Southward&P 500 component
Industry Retail, variety, disbelieve
Predecessors
  • K&Yard 5&10 (1953–1986)
  • Just $i.00 (1986–1993)
Founded 1986; 36 years ago  (1986)
Norfolk, Virginia, U.Southward.
Headquarters

Chesapeake, Virginia

,

U.S.

Number of locations

 15,288 (February 2020) [i]

Areas served

 United States, Canada

Key people

 Mike Witynski (CEO)
Products Nutrient and snacks, health and beauty intendance products, housewares, books and toys
Revenue Increase The states$25.509 Billion (Fiscal Twelvemonth Ended January 30, 2021)[2]

Operating income

 Increase U.s.$1.887 Billion (Fiscal Year Ended January xxx, 2021)[2]

Cyberspace income

 Increase United states$1.341 Billion (Fiscal Year Concluded Jan 30, 2021)[2]
Full assets Increase The states$twenty.696 Billion (Financial Yr Ended January 30, 2021)[2]
Total disinterestedness Increase U.s.$7.285 Billion (Fiscal Year Ended January 30, 2021)[two]

Number of employees

 193,100 [1]
Divisions Dollar Tree Canada
Subsidiaries Family Dollar
Website dollartree.com

Map of Dollar Tree stores in USA, as of December 2020 [3]

Dollar Tree, formerly known as Only $one.00, is an American multi-price-bespeak chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 15,115 stores throughout the 48 contiguous U.Southward. states and Canada.[1] Its stores are supported by a nationwide logistics network of 24 distribution centers. Additionally, the company operates stores under the name of Dollar Bills, likewise as a multi-toll-point diversity chain under the Family Dollar imprint.

Dollar Tree competes in the dollar store and low-end retail markets. Each Dollar Tree stocks a diverseness of products including national, regional, and private-label brands. Departments found in a Dollar Tree store include health and dazzler, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, processed, toys, gifts, souvenir bags and wrap, jotter, arts and crafts supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores too sell frozen foods and dairy items such equally milk, eggs, pizza, ice cream, frozen dinners, and pre-made broiled goods. In August 2012, the company began accepting manufacturer's coupons at all of its store locations.[4]

History [edit]

Early years [edit]

In 1953, Thou. R. Perry[5] opened a Ben Franklin diverseness store in Norfolk, Virginia, which subsequently became known as K&Yard 5&ten.

In 1970, K. R. Perry, Doug Perry, and Macon Brock started One thousand&Chiliad Toys in Norfolk, Virginia. This mall concept grew to over 130 stores on the East Coast.[5]

In 1986, Doug Perry, Macon Brock, and Ray Compton started another chain store called But $1.00 with five stores, ane in Georgia, ane in Tennessee, and iii in Virginia. The expansion of dollar stores was continued aslope K&K Toys stores, mostly in enclosed malls.[5]

In 1991, the corporation made a decision to focus exclusively on the expansion of dollar stores later selling G&K stores to KB Toys, endemic by Melville Corporation.[5]

1990s [edit]

In 1993, the name Simply $1.00 was changed to Dollar Tree Stores to address what could be a multi-toll-point strategy in the hereafter, and office equity interest was sold to SKM partners, a private equity house.[5]

Brock and the co-founders of Dollar Tree got the thought for the visitor from another retailer known equally Everything's A Dollar, which went bankrupt in the 1990s.[half-dozen]

On March 6, 1995, Dollar Tree, Inc. went public on the NASDAQ exchange at $15 a share, with a market place cap then calculated at $225 million.[ citation needed ]

In 1996, Dollar Tree acquired Dollar Neb$, Inc., a Chicago-based chain of 136 stores.

In 1997, the company opened its beginning distribution heart and its new store support center, both located in Chesapeake, Virginia.

In 1998, Dollar Tree acquired 98-Cent Clearance Centers in California.[ commendation needed ]

In 1999, Dollar Tree acquired Just $One stores based in New York state.[7] That same twelvemonth, the visitor opened its 2nd distribution center in Olive Branch, Mississippi.

2000s [edit]

This Dollar Tree store in Northwood, Ohio, is i of the few stores that continues to use the defunct Super Dollar Tree banner.

In 2000, Dollar Tree acquired Dollar Express, a Philadelphia-based company, and also congenital a new distribution eye in Stockton, California.[viii] [9] In 2001, the company opened ii additional distribution centers, in Savannah, Georgia, and Briar Creek, Pennsylvania.[x] [11] In 2003, Dollar Tree acquired Salt Lake City, Utah-based Greenbacks, Inc., and opened a new distribution eye in Marietta, Oklahoma.[12] [xiii]

In 2004, Dollar Tree opened its first store in N Dakota which marked its performance of stores in all 48 contiguous states. The visitor also opened new distribution centers in Joliet, Illinois, and Ridgefield, Washington.[xiv] [15]

In 2006, Dollar Tree celebrated its 20th yr of retailing at a $1.00 price point, opened its 3,000th store, and acquired 138 Bargain$ stores, previously owned past SUPERVALU INC.[sixteen]

In 2007, Dollar Tree expanded its Briar Creek Distribution Center and crossed the $four billion sales threshold.[17] In 2008, Dollar Tree earned a identify in the Fortune 500. By the close of 2009, the company opened a store in Washington, D.C., and purchased a new distribution heart in San Bernardino, California.[18]

In 2009, Dollar Tree redesigned its website with a new e-commerce platform. DollarTree.com sells Dollar Tree merchandise in larger quantities to individuals, pocket-size businesses, and organizations. The company also advertises in-store events, specials, seasonal promotions, and featured products through the site and users tin can locate a retail store, research information about Dollar Tree, and view product recalls. Dollar Tree likewise added client ratings and reviews and customer stories to the site.

2010s [edit]

In 2010, the corporation opened its 4,000th chain store and acquired 86 Canadian Dollar Giant stores which are based in Vancouver, British Columbia, Canada. The stores are operated in British Columbia, Alberta, Saskatchewan and Ontario. These are the first retail locations outside of the United States operated by Dollar Tree.

In 2011, Dollar Tree accomplished total sales of $6.63 billion, opened 278 new stores, and completed a 400,000 square feet (37,000 m2) expansion of its distribution center in Savannah, Georgia.

In 2012, Dollar Tree opened another 345 new stores and exceeded $seven billion in sales, with an end-of-the-twelvemonth market cap at $ix.13 billion.

On July 28, 2014, Dollar Tree announced that it was offering $9.two billion for the purchase of competitor chain store Family Dollar. On Baronial 18, 2014, Dollar General lodged a competing bid of $ix.seven billion for Family Dollar.[nineteen] The bid was rejected on Baronial 20, 2014, past the Family unit Dollar board, which said it would proceed with the bargain with Dollar Tree.[xx]

In January 2015, Dollar Tree announced plans to divest 300 stores in lodge to gratify United states regulators scrutinizing its proposed takeover of Family Dollar stores.[21]

In June 2015, the firm agreed to sell 330 stores to private disinterestedness company Sycamore Partners as part of the approval process for its $viii.v billion takeover of Family Dollar.[22]

The company was ranked 134 on the 2018 Fortune 500 list of the United States corporations by revenue.[23]

In March 2019, as office of its reposition plan, Dollar Tree announced that information technology will shut upwardly to 390 Family Dollar stores along with renovating ane,000 other locations.[24]

2020s [edit]

On March 3, 2021, it was appear that Dollar Tree had quietly introduced a combination Family Dollar/Dollar Tree store concept with the showtime one opening in early on 2021.[25] Dollar Tree has opened and operated well-nigh l locations past the cease of 2020, primarily in small towns with populations of just a few thousand people.[26]

On September 28, 2021, CEO Michael Wytinski, citing increased shipping and labor costs squeezing profit margins, appear that some prices volition be rising above $i, peradventure to as much every bit $1.50.[27]

On November 23, 2021, it was appear that Dollar Tree plans to enhance its prices from a dollar for typical items to $1.25 in response to inflation and pressure from investors to raise prices. Some of the items sold at Dollar Tree volition not take its prices increased. The retailer volition innovate the new price point in more than 2,000 stores by December 2021 and consummate the ringlet-out across about of its 8,000 stores by the outset quarter of 2022.[28]

Business strategy [edit]

Dollar Tree is classified equally an extreme discount store.[29] It claims to be able to achieve this considering their buyers "work extremely difficult to notice the best bargains out in that location", and it has "great command over the tremendous buying ability at the dollar price-point".[thirty] Its prices are primarily designed to concenter financially disadvantaged customers, but it has also become popular within immigrant communities.[29]

Family Dollar bidding [edit]

On July 28, 2014, Dollar Tree announced that a deal had been reached and approved by both parties to purchase Family unit Dollar for $8.5 billion plus acquisition of the $ane billion in debt currently held by Family unit Dollar.[31] [32] [33] The deal came in the month following activist investor and major shareholder[34] Carl Icahn'due south demand that Family unit Dollar be promptly put up for auction.[35] Later on their reported deal had been struck, Dollar General entered the bidding, surpassing Dollar Tree's offer, with a $9.7 billion bid on August 18, 2014.[36] On August 20, 2014, Family Dollar rejected the Dollar General bid, maxim it was not a matter of price, just concerns over antitrust issues that had convinced the company and its advisers that the bargain could not exist concluded on the terms proposed. The Family unit Dollar board had been analyzing potential antitrust issues that could arise from doing a deal with Dollar General, since the showtime of the year a statement from CEO Howard Levine outlined.[twenty]

Canada [edit]

Dollar Tree Stores Canada, Inc.
Formerly Dollar Giant (2001–2010)
Type Subsidiary
Industry Retail
Founded Vancouver, British Columbia, Canada (2001)
Founder Joseph Calvano (co-founder)
Headquarters Burnaby, British Columbia, Canada

Number of locations

 227

Expanse served

 Canada

Key people

 Neil Curran (President)
Parent Dollar Tree (2010–present)
Website www.dollartreecanada.com

Dollar Tree stores in Canada sell items for C$1.l or less.[37] On October 11, 2010, Dollar Tree announced its acquisition of Dollar Giant, originally incorporated in 2001 in Vancouver, Canada, for $52 million.[38] [39] At the fourth dimension of the acquisition, Dollar Giant had well-nigh 85 retail outlets in the provinces of British Columbia, Alberta, Saskatchewan and Ontario.[40] Approximately 30 of its retail locations are in British Columbia, making it the second largest dollar store chain in that province. It was Canada'south fourth largest operator of dollar stores. Dollar Tree has since rebranded all of its Dollar Giant stores to Dollar Tree; these were the first retail locations exterior of the United States operated by Dollar Tree. The visitor now operates 227 stores beyond Canada, concentrated in Western Canada and Ontario. Dollar Tree Canada's merchandising team is located in Mississauga, Ontario, while its corporate function remains in Burnaby in Greater Vancouver.[41]

Recalls [edit]

The Consumer Product Condom Commission lists several recalls for products sold at Dollar Tree stores. The recalled products include salsa jars with cleaved glass inside them, hot-melt mini glue guns (recalled in January 2008) which could short excursion and cause burns,[42] and candle sets (recalled in February 2004) which could produce excessive flame.[43]

References [edit]

  1. ^ a b c "Dollar Tree, Inc. 2017 Almanac Study (Class ten-K)". sec.gov. U.S. Securities and Exchange Committee. March 2018.
  2. ^ a b c d e "Dollar Tree, Inc. 2021 Almanac Written report". www.dollartreeinfo.com. Jan 30, 2021. Retrieved November 25, 2021.
  3. ^ "Dollar Tree Locations". Retrieved December 25, 2020.
  4. ^ Shapiro, Carolyn (August 22, 2012). "Dollar Tree plans to start accepting coupons Sunday". pilotonline.com. Archived from the original on July 10, 2021. Retrieved November 25, 2021.
  5. ^ a b c d east "Dollar Tree, Inc.: History". Dollartree.com. Retrieved April 15, 2014.
  6. ^ Hagerty, James R. (Dec 22, 2017). "Macon Brock, Dollar Tree Founder, Searched the World for Bargains". The Wall Street Periodical . Retrieved October eight, 2019.
  7. ^ MENT, JONATHAN (February 28, 2002). "Dollar Tree to open Ulster Avenue co-operative soon". Daily Freeman . Retrieved May xiii, 2020.
  8. ^ "DOLLAR TREE STORES, INC. COMPLETES Conquering OF DOLLAR EXPRESS, INC" (Press release). Retrieved November 25, 2021.
  9. ^ "Dollar Tree Distribution Center". www.dollartree.com . Retrieved November 25, 2021.
  10. ^ "Shipments soaring in Savannah". American City Business Journals. Archived from the original on February 9, 2004. Retrieved November 25, 2021.
  11. ^ "Committee File No.0-25464 DOLLAR TREE STORES, INC" (PDF). U.Southward. Securities and Substitution Commission. p. 8. Archived (PDF) from the original on November 25, 2021. Retrieved November 25, 2021.
  12. ^ "DOLLAR TREE SIGNS Binding Understanding TO ACQUIRE GREENBACKS" (Press release). Retrieved Nov 25, 2021.
  13. ^ "Dollar Tree Distribution Center". www.dollartree.com . Retrieved Nov 25, 2021.
  14. ^ "Dollar Tree Distribution Center". world wide web.dollartree.com . Retrieved Nov 25, 2021.
  15. ^ "Dollar Tree Distribution Middle". www.dollartree.com . Retrieved Nov 25, 2021.
  16. ^ "Dollar Tree Completes Acquisition of Deal$ Stores" (Press release). Retrieved Nov 25, 2021.
  17. ^ "Dollar Tree Case Study". dokumen.tips . Retrieved November 25, 2021.
  18. ^ "Dollar Tree Distribution Middle". world wide web.dollartree.com . Retrieved November 25, 2021.
  19. ^ "Race to purchase Family Dollar heats up with Dollar General hiking bid to $8.95 bn". Business Sun. August xviii, 2014. Archived from the original on August 21, 2014. Retrieved August 19, 2014.
  20. ^ a b "Family Dollar rejects $nine.vii bn conquering bid by Dollar General". Charlotte News.Net. August 21, 2014. Retrieved August 22, 2014.
  21. ^ "Dollar Tree expects to shed less than 300 stores to purchase Family Dollar". Reuters. Jan 12, 2015. Archived from the original on January 24, 2015. Retrieved July i, 2017.
  22. ^ "Dollar Tree to sell 330 Family Dollar stores to Sycamore Partners, Reuters, 29 May 2015". Reuters. May 29, 2015. Archived from the original on March three, 2016. Retrieved August 17, 2019.
  23. ^ "Dollar Tree". Fortune . Retrieved November 18, 2018.
  24. ^ Bursztynsky, Jessica (March 6, 2019). "Dollar Tree to close up to 390 Family unit Dollar stores this year". CNBC . Retrieved March xi, 2019.
  25. ^ Pierceall, Kimberly. "Dollar Tree launches new store concept, announces $25.5 billion in sales concluding year". pilotonline.com . Retrieved November 25, 2021.
  26. ^ Pierceall, Kimberly. "Dollar Tree launches new store concept, announces $25.five billion in sales final yr". The Virginia Pilot. Retrieved March 4, 2021.
  27. ^ Nassauer, Sarah (September 29, 2021). "Dollar Tree to Sell More Items Above $1 every bit Costs Rise". Wall Street Journal.
  28. ^ "What's in a name? Discount store Dollar Tree raises prices to $1.25". The Guardian. November 24, 2021.
  29. ^ a b Hitt, Jack (August 18, 2011). "The Dollar-Store Economy". The New York Times . Retrieved Nov 26, 2016.
  30. ^ "Dollar Tree, Inc.: Frequently Asked Questions". Dollar Tree. Archived from the original on March 24, 2009. Retrieved May 17, 2015.
  31. ^ "Dollar Tree to buy Family Dollar to stave off competition". Reuters. July 28, 2014. Archived from the original on July 28, 2014. Retrieved May 17, 2015.
  32. ^ "Charlotte region loses corporate headquarters in Family Dollar buyout". charlotteobserver. Archived from the original on March 5, 2016. Retrieved August 17, 2019.
  33. ^ Paul Ziobro and Shelly Banjo (July 28, 2014). "Battle for Poor Shoppers Fuels Dollar-Shop Deal". WSJ . Retrieved May 17, 2015.
  34. ^ "fdosch13d060614.htm". sec.gov . Retrieved May 17, 2015.
  35. ^ "fdosch13damd10619ex1.htm". sec.gov . Retrieved May 17, 2015.
  36. ^ Davidson, Paul; Beat out, Adam. "Dollar General offers $9.7B for Family Dollar". The USA Today . Retrieved August 18, 2014.
  37. ^ "Home". Dollar Tree Canada . Retrieved Jan 9, 2020.
  38. ^ "Dollar Tree Announces Definitive Agreement to Acquire Canadian Dollar Giant Stores" (Press release). Business Wire. October 11, 2010. Retrieved October iii, 2012.
  39. ^ "Dollar Tree to purchase Dollar Giant stores for $52M". Bloomberg Businessweek. Bloomberg Fifty.P. October eleven, 2010. Archived from the original on March 12, 2016. Retrieved October 3, 2012.
  40. ^ "Dollar Giant is at present Dollar Tree Canada! - Dollar Tree Canada". dollartreecanada.com. Archived from the original on June 16, 2015. Retrieved May 17, 2015.
  41. ^ "Contact Us". Retrieved January nine, 2020.
  42. ^ Hot glue gun call up Archived September 17, 2008, at the Wayback Motorcar, cpsc.gov
  43. ^ Candle fix recall Archived September twenty, 2008, at the Wayback Machine, cpsc.gov

External links [edit]

  • Official website
  • Business data for Dollar Tree:
    • Google Finance
    • Yahoo! Finance
    • SEC filings

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Source: https://en.wikipedia.org/wiki/Dollar_Tree

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