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Family Dollar Weekly Ad for October 15th 2017

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American disbelieve multifariousness chain

Dollar Tree, Inc.

Trade name

 Dollar Tree
Formerly
  • Only $1.00
  • Dollar Tree Stores, Inc.
Type Public

Traded as
  • Nasdaq: DLTR
  • NASDAQ-100 component
  • S&P 500 component
Industry Retail, variety, discount
Predecessors
  • One thousand&K 5&10 (1953–1986)
  • Only $1.00 (1986–1993)
Founded 1986; 36 years ago  (1986)
Norfolk, Virginia, U.South.
Headquarters

Chesapeake, Virginia

,

U.Due south.

Number of locations

 15,288 (February 2020) [1]

Areas served

 U.s.a., Canada

Key people

 Mike Witynski (CEO)
Products Food and snacks, health and beauty care products, housewares, books and toys
Revenue Increase US$25.509 Billion (Fiscal Year Concluded January thirty, 2021)[2]

Operating income

 Increase U.s.$1.887 Billion (Financial Yr Concluded January 30, 2021)[2]

Cyberspace income

 Increase US$1.341 Billion (Fiscal Year Ended January 30, 2021)[2]
Total assets Increase The states$xx.696 Billion (Fiscal Year Ended January 30, 2021)[two]
Total equity Increase United states of america$7.285 Billion (Fiscal Twelvemonth Ended January 30, 2021)[two]

Number of employees

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

Map of Dollar Tree stores in The states, every bit of December 2020 [3]

Dollar Tree, formerly known as Only $one.00, is an American multi-toll-indicate concatenation of disbelieve variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates xv,115 stores throughout the 48 contiguous U.Southward. states and Canada.[ane] Its stores are supported by a nationwide logistics network of 24 distribution centers. Additionally, the visitor operates stores under the proper name of Dollar Bills, as well as a multi-price-point variety chain under the Family Dollar banner.

Dollar Tree competes in the dollar shop and low-finish retail markets. Each Dollar Tree stocks a variety of products including national, regional, and private-label brands. Departments establish in a Dollar Tree shop include health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores as well sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods. In Baronial 2012, the company began accepting manufacturer's coupons at all of its store locations.[4]

History [edit]

Early years [edit]

In 1953, Thousand. R. Perry[5] opened a Ben Franklin variety store in Norfolk, Virginia, which later became known as K&G v&10.

In 1970, K. R. Perry, Doug Perry, and Macon Brock started K&G 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 some other chain store chosen Only $1.00 with five stores, i in Georgia, ane in Tennessee, and 3 in Virginia. The expansion of dollar stores was continued alongside Yard&K Toys stores, mostly in enclosed malls.[v]

In 1991, the corporation made a conclusion to focus exclusively on the expansion of dollar stores afterward selling Thou&One thousand stores to KB Toys, endemic by Melville Corporation.[five]

1990s [edit]

In 1993, the proper noun Only $1.00 was changed to Dollar Tree Stores to address what could be a multi-price-indicate strategy in the futurity, and part disinterestedness interest was sold to SKM partners, a private disinterestedness firm.[5]

Brock and the co-founders of Dollar Tree got the idea for the company from another retailer known equally Everything'south A Dollar, which went bankrupt in the 1990s.[6]

On March vi, 1995, Dollar Tree, Inc. went public on the NASDAQ exchange at $xv a share, with a market cap and so calculated at $225 million.[ citation needed ]

In 1996, Dollar Tree caused Dollar Nib$, Inc., a Chicago-based concatenation of 136 stores.

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

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

In 1999, Dollar Tree acquired Only $One stores based in New York state.[7] That aforementioned yr, the visitor opened its second distribution center in Olive Co-operative, Mississippi.

2000s [edit]

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

In 2000, Dollar Tree caused Dollar Express, a Philadelphia-based visitor, and also built a new distribution center in Stockton, California.[8] [nine] In 2001, the company opened ii additional distribution centers, in Savannah, Georgia, and Briar Creek, Pennsylvania.[10] [11] In 2003, Dollar Tree acquired Salt Lake City, Utah-based Greenbacks, Inc., and opened a new distribution heart in Marietta, Oklahoma.[12] [13]

In 2004, Dollar Tree opened its get-go store in N Dakota which marked its operation of stores in all 48 contiguous states. The company besides opened new distribution centers in Joliet, Illinois, and Ridgefield, Washington.[14] [fifteen]

In 2006, Dollar Tree celebrated its 20th year of retailing at a $1.00 price point, opened its 3,000th store, and acquired 138 Bargain$ stores, previously owned past SUPERVALU INC.[16]

In 2007, Dollar Tree expanded its Briar Creek Distribution Center and crossed the $4 billion sales threshold.[17] In 2008, Dollar Tree earned a place in the Fortune 500. Past the close of 2009, the company opened a store in Washington, D.C., and purchased a new distribution center 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, modest businesses, and organizations. The company also advertises in-store events, specials, seasonal promotions, and featured products through the site and users can locate a retail store, research data well-nigh Dollar Tree, and view product recalls. Dollar Tree besides added client ratings and reviews and client stories to the site.

2010s [edit]

In 2010, the corporation opened its 4,000th concatenation 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 outset 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 mii) expansion of its distribution center in Savannah, Georgia.

In 2012, Dollar Tree opened another 345 new stores and exceeded $7 billion in sales, with an stop-of-the-twelvemonth market cap at $nine.xiii billion.

On July 28, 2014, Dollar Tree appear that it was offer $9.2 billion for the purchase of competitor chain store Family Dollar. On August eighteen, 2014, Dollar General lodged a competing bid of $nine.7 billion for Family Dollar.[19] The bid was rejected on August xx, 2014, by the Family unit Dollar lath, which said it would proceed with the deal with Dollar Tree.[20]

In January 2015, Dollar Tree appear plans to divest 300 stores in order to appease US regulators scrutinizing its proposed takeover of Family Dollar stores.[21]

In June 2015, the house agreed to sell 330 stores to individual equity company Sycamore Partners equally part of the approval procedure for its $8.5 billion takeover of Family unit Dollar.[22]

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

In March 2019, as part of its reposition plan, Dollar Tree announced that it volition close up to 390 Family Dollar stores forth with renovating ane,000 other locations.[24]

2020s [edit]

On March 3, 2021, it was announced that Dollar Tree had quietly introduced a combination Family Dollar/Dollar Tree store concept with the first one opening in early 2021.[25] Dollar Tree has opened and operated nearly 50 locations past the end of 2020, primarily in small towns with populations of simply a few thousand people.[26]

On September 28, 2021, CEO Michael Wytinski, citing increased shipping and labor costs squeezing profit margins, announced that some prices will be rising to a higher place $ane, perhaps to every bit much every bit $1.50.[27]

On Nov 23, 2021, it was appear that Dollar Tree plans to raise its prices from a dollar for typical items to $1.25 in response to inflation and pressure from investors to enhance prices. Some of the items sold at Dollar Tree will not have its prices increased. The retailer will introduce the new price betoken in more than 2,000 stores by December 2021 and complete the roll-out across most of its viii,000 stores by the offset quarter of 2022.[28]

Business concern strategy [edit]

Dollar Tree is classified as an extreme discount store.[29] Information technology claims to be able to achieve this considering their buyers "work extremely hard to find the all-time bargains out there", and it has "bully control over the tremendous buying power at the dollar price-point".[30] Its prices are primarily designed to attract financially disadvantaged customers, but it has as well get pop 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 buy Family Dollar for $8.5 billion plus acquisition of the $ane billion in debt currently held by Family Dollar.[31] [32] [33] The bargain came in the month post-obit activist investor and major shareholder[34] Carl Icahn's need that Family Dollar be promptly put upwards for sale.[35] After their reported bargain had been struck, Dollar General entered the bidding, surpassing Dollar Tree'south offer, with a $ix.7 billion bid on Baronial xviii, 2014.[36] On August 20, 2014, Family unit Dollar rejected the Dollar General bid, saying it was not a matter of price, but concerns over antitrust problems that had convinced the visitor and its advisers that the deal could non exist concluded on the terms proposed. The Family Dollar board had been analyzing potential antitrust issues that could arise from doing a bargain with Dollar General, since the outset of the year a statement from CEO Howard Levine outlined.[xx]

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

Area 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$one.50 or less.[37] On October 11, 2010, Dollar Tree announced its acquisition of Dollar Giant, originally incorporated in 2001 in Vancouver, Canada, for $52 meg.[38] [39] At the time of the acquisition, Dollar Giant had about 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 2d largest dollar store chain in that province. Information technology was Canada's fourth largest operator of dollar stores. Dollar Tree has since rebranded all of its Dollar Giant stores to Dollar Tree; these were the commencement retail locations outside of the United States operated by Dollar Tree. The company now operates 227 stores beyond Canada, full-bodied in Western Canada and Ontario. Dollar Tree Canada'due south merchandising team is located in Mississauga, Ontario, while its corporate office remains in Burnaby in Greater Vancouver.[41]

Recalls [edit]

The Consumer Production Prophylactic Commission lists several recalls for products sold at Dollar Tree stores. The recalled products include salsa jars with broken glass inside them, hot-cook mini glue guns (recalled in January 2008) which could brusk 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 Annual Report (Form x-K)". sec.gov. U.South. Securities and Exchange Commission. March 2018.
  2. ^ a b c d eastward "Dollar Tree, Inc. 2021 Almanac Report". www.dollartreeinfo.com. January 30, 2021. Retrieved November 25, 2021.
  3. ^ "Dollar Tree Locations". Retrieved Dec 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 Nov 25, 2021.
  5. ^ a b c d e "Dollar Tree, Inc.: History". Dollartree.com. Retrieved April fifteen, 2014.
  6. ^ Hagerty, James R. (December 22, 2017). "Macon Brock, Dollar Tree Founder, Searched the World for Bargains". The Wall Street Journal . Retrieved October 8, 2019.
  7. ^ MENT, JONATHAN (February 28, 2002). "Dollar Tree to open up Ulster Avenue branch presently". Daily Freeman . Retrieved May 13, 2020.
  8. ^ "DOLLAR TREE STORES, INC. COMPLETES Conquering OF DOLLAR EXPRESS, INC" (Press release). Retrieved November 25, 2021.
  9. ^ "Dollar Tree Distribution Center". world wide web.dollartree.com . Retrieved November 25, 2021.
  10. ^ "Shipments soaring in Savannah". American Metropolis Business concern Journals. Archived from the original on February 9, 2004. Retrieved Nov 25, 2021.
  11. ^ "Commission File No.0-25464 DOLLAR TREE STORES, INC" (PDF). U.S. Securities and Exchange Commission. p. viii. Archived (PDF) from the original on November 25, 2021. Retrieved Nov 25, 2021.
  12. ^ "DOLLAR TREE SIGNS Binding Understanding TO Larn Cash" (Press release). Retrieved November 25, 2021.
  13. ^ "Dollar Tree Distribution Center". www.dollartree.com . Retrieved November 25, 2021.
  14. ^ "Dollar Tree Distribution Center". www.dollartree.com . Retrieved Nov 25, 2021.
  15. ^ "Dollar Tree Distribution Center". world wide web.dollartree.com . Retrieved November 25, 2021.
  16. ^ "Dollar Tree Completes Acquisition of Bargain$ Stores" (Press release). Retrieved November 25, 2021.
  17. ^ "Dollar Tree Case Study". dokumen.tips . Retrieved November 25, 2021.
  18. ^ "Dollar Tree Distribution Center". www.dollartree.com . Retrieved Nov 25, 2021.
  19. ^ "Race to buy Family Dollar heats upwardly with Dollar General hiking bid to $8.95 bn". Business organisation Sun. August xviii, 2014. Archived from the original on Baronial 21, 2014. Retrieved Baronial nineteen, 2014.
  20. ^ a b "Family Dollar rejects $ix.7 bn conquering bid by Dollar Full general". Charlotte News.Net. August 21, 2014. Retrieved August 22, 2014.
  21. ^ "Dollar Tree expects to shed less than 300 stores to buy Family unit Dollar". Reuters. January 12, 2015. Archived from the original on January 24, 2015. Retrieved July ane, 2017.
  22. ^ "Dollar Tree to sell 330 Family unit Dollar stores to Sycamore Partners, Reuters, 29 May 2015". Reuters. May 29, 2015. Archived from the original on March 3, 2016. Retrieved August 17, 2019.
  23. ^ "Dollar Tree". Fortune . Retrieved November xviii, 2018.
  24. ^ Bursztynsky, Jessica (March 6, 2019). "Dollar Tree to close up to 390 Family Dollar stores this year". CNBC . Retrieved March eleven, 2019.
  25. ^ Pierceall, Kimberly. "Dollar Tree launches new shop concept, announces $25.5 billion in sales last yr". pilotonline.com . Retrieved November 25, 2021.
  26. ^ Pierceall, Kimberly. "Dollar Tree launches new shop concept, announces $25.5 billion in sales terminal year". The Virginia Pilot. Retrieved March 4, 2021.
  27. ^ Nassauer, Sarah (September 29, 2021). "Dollar Tree to Sell More than Items Above $1 equally Costs Rise". Wall Street Periodical.
  28. ^ "What's in a name? Discount shop Dollar Tree raises prices to $1.25". The Guardian. November 24, 2021.
  29. ^ a b Hitt, Jack (Baronial 18, 2011). "The Dollar-Shop Economy". The New York Times . Retrieved November 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 unit 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 unit Dollar buyout". charlotteobserver. Archived from the original on March v, 2016. Retrieved Baronial 17, 2019.
  33. ^ Paul Ziobro and Shelly Banjo (July 28, 2014). "Battle for Poor Shoppers Fuels Dollar-Store 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; Trounce, Adam. "Dollar General offers $9.7B for Family Dollar". The USA Today . Retrieved August 18, 2014.
  37. ^ "Domicile". Dollar Tree Canada . Retrieved January nine, 2020.
  38. ^ "Dollar Tree Announces Definitive Agreement to Learn Canadian Dollar Giant Stores" (Press release). Business Wire. October xi, 2010. Retrieved Oct three, 2012.
  39. ^ "Dollar Tree to buy Dollar Giant stores for $52M". Bloomberg Businessweek. Bloomberg L.P. Oct eleven, 2010. Archived from the original on March 12, 2016. Retrieved October iii, 2012.
  40. ^ "Dollar Behemothic is now Dollar Tree Canada! - Dollar Tree Canada". dollartreecanada.com. Archived from the original on June sixteen, 2015. Retrieved May 17, 2015.
  41. ^ "Contact U.s.a.". Retrieved January 9, 2020.
  42. ^ Hot glue gun call back Archived September 17, 2008, at the Wayback Machine, cpsc.gov
  43. ^ Candle set recall Archived September 20, 2008, at the Wayback Machine, cpsc.gov

External links [edit]

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

sweetwartind.blogspot.com

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

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