Family Dollar

American Dollar Trees can be found in most S as of the end of the year 2020 [3]

Organization: Dollar Tree, Inc. , an American discount department store with multiple price points It is a Fortune 500 company with headquarters in Chesapeake, Virginia and 15,115 retail outlets spread across the 48 contiguous states. S regions, including the United States and Canada A total of 24 distribution centers across the country support its retail outlets. The company also runs a dollar store chain known as Dollar Bills and a discount variety store chain known as Family Dollar.

Dollar Tree is a competitor in the dollar store and low-end retail sectors. Products from well-known companies as well as local and in-house labels can be found at local Dollar Trees. Health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationary, craft supplies, teaching supplies, automobile accessories, electronics, pet supplies, and books are just some of the departments you can find at Dollar Tree. Milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods are just some of the frozen and dairy items that can be found in most Dollar Tree stores. The company started accepting manufacturer coupons at all stores in August 2012. [4]

While the South and Northeast account for the bulk of their store locations, you can find them all over the country.

History [ edit ]

The Beginnings [ edit ]

In 1953, K R In Norfolk, Virginia, Perry[5] established a Ben Franklin variety store that eventually evolved into what is now known as K&K 5&10.

In 1970, K R K&K Toys was founded in Norfolk, Virginia by Perry, Doug Perry, and Macon Brock. A total of more than 130 stores on the East Coast adopted this mall model. [5]

Only $1 was founded in 1986 by retail veterans Doug Perry, Macon Brock, and Ray Compton. 00 with 5 locations, including 1 in GA, 1 in TN, and 3 in VA. Along with K&K Toys, dollar stores have proliferated, especially in shopping malls with roofs. [5]

It all started at the Jessamine Mall in Sumter, South Carolina on April 27, 1989, when the first "Dollar Tree" store opened under the brand. [6] In an ad published in the Sun-News in May 1989, the startup chain, which was apparently already planning 100 stores in the eastern United States, promotes its dollar-pricing model as the "hottest new shopping concept in America." [7]

After selling its K&K stores to KB Toys, owned by Melville Corporation in 1991, the company decided to concentrate solely on expanding its dollar store chain. [5]

1990s [ edit ]

The Only $1 Store first opened in 1993. In preparation for a possible multi-price-point strategy in the future, 00 rebranded as Dollar Tree Stores, and a private equity firm, SKM partners, acquired a stake in the company. [5]

The inspiration for Dollar Tree came from a failed retailer called Everything's A Dollar, which was founded by Brock and his business partners in the 1990s. [8]

Dollar Tree, Inc. was founded on March 6, 1995. started trading on the NASDAQ at $15 per share, with an initial market cap of $225 million. citation neededThere is a lack of citation for this section.

To better serve its customers, Dollar Tree purchased Dollar Bill$, Inc. in 1996. has 136 locations and is headquartered in Chicago.

Both the company's first distribution center and its new store support center were established in Chesapeake, Virginia, in 1997.

Dollar Tree purchased California's 98-Cent Clearance Centers in 1998. citation needed(Citation required)

Dollar Tree bought the New York-based Only $One chain in 1999. A second distribution center for the firm was established in Olive Branch, Mississippi, in [9] that very year.

2000s [ edit ]

One of the few remaining Dollar Trees to use the now-defunct Super Dollar Tree banner is located in Northwood, Ohio.

Dollar Express, based in Philadelphia, was acquired by Dollar Tree in 2000, the same year that Dollar Tree opened a new distribution center in Stockton, California. The company expanded its distribution network in 2001 with the opening of facilities in both Savannah, Georgia, and Briar Creek, Pennsylvania. The Dollar Tree company bought Greenbacks, Inc. of Salt Lake City, Utah, in 2003. [12][13] , and launched a brand-new warehouse in Marietta, Oklahoma [14][15]

Dollar Tree's first store opened in North Dakota in 2004, and by the end of that year, the company was doing business in all 48 contiguous states. Both in Joliet, Illinois, and Ridgefield, Washington, the company has set up new distribution centers. [16][17]

As of 2006, Dollar Tree had been selling items for $1 for 20 years. at the 00 mark, opened its 3000th location, and bought out 138 of SUPERVALU INC.'s DEAL$ stores [18]

It was in 2007 that Dollar Tree broke the $4 billion sales barrier and began expanding its Briar Creek Distribution Center. Dollar Tree entered the Fortune 500 list that year [19]. The company bought a distribution center in San Bernardino, California, and opened a store there by the end of 2009. [20]

Dollar Tree launched a brand-new e-commerce platform and updated their website that same year. DollarTree DollarTree.com is a wholesaler that provides customers with access to Dollar Tree's vast selection of products at lower prices. In addition to promoting in-store events, specials, seasonal promotions, and featured products, users can also look up company information, find the nearest store, and check the latest product recalls on the site. Also new to the Dollar Tree website are customer reviews, ratings, and testimonials.

2010s [ edit ]

Gillette, Wyoming Dollar Tree interior

In 2010, the company acquired 86 locations of the Vancouver, British Columbia–based Canadian Dollar Giant chain and opened its 4,000th chain store. Locations in BC, AB, SK, and ON are responsible for running the retail outlets. Dollar Tree is opening its first stores in countries other than the United States with these locations.

Overall sales for Dollar Tree in 2011 were 63 billion, expanded its distribution center in Savannah, Georgia by 400,000 square feet (37,000 square meters), and opened 278 new stores.

Dollar Tree added 345 new locations in 2012 and had sales of over billion and a market cap of billion by year's end. 13 billion

Dollar Tree promoted a off any purchase on July 28, 2014. Spending $2 billion to acquire the Family Dollar chain's rival. Dollar General submitted a competing bid of on August 18, 2014. Family Dollar's billion in sales The offer was rejected by the Family Dollar board on August 20, 2014, and the company went ahead with its merger with Dollar Tree. [22]

To appease US regulators looking into its proposed takeover of Family Dollar stores, Dollar Tree announced in January 2015 that it would sell off 300 of its stores. [23]

So that its billion acquisition by private equity firm Sycamore Partners could be approved, the company announced in June 2015 that it would sell 330 stores to Sycamore Partners. Valued at billion, the acquisition of Family Dollar is a massive deal. [24]

On the Fortune 500 list of the largest American corporations in terms of revenue in 2018, the company ranked 134. [25]

Dollar Tree announced in March 2019 that as part of its reposition plan, it would close up to 390 Family Dollar stores and remodel 1,000 others. [26]

2020s [ edit ]

Hillsboro, Oregon storefront.

A Dollar Tree/Family Dollar hybrid store will open for business for the first time in early 2021, the company announced on March 3, 2021. By the year 2020, [27] Dollar Tree will have opened and operated nearly 50 stores, most of which will be in tiny communities with populations of a few thousand or fewer. [28]

CEO Michael Witynski announced on September 28, 2021, that some prices will be increasing above $1, potentially to as much as $1, due to increased shipping and labor costs squeezing profit margins. 50 [29]

Dollar Tree announced on November 23, 2021, that it would increase its typical item prices from $1 to $2. 25 as a result of inflation and investor demand for price increases In some cases, Dollar Tree has decided not to raise the prices of their products. More than 2,000 of the retailer's stores will carry the new pricing structure by the end of 2021, and the remainder of its 8,000 stores will follow suit by the beginning of 2022. [30]

A Method for Conducting Business [ edit ]

Dollar Tree is an example of a super-cheap retailer. It asserts this is possible because its buyers "work extremely hard to find the best bargains out there" and the company has "great control over the tremendous buying power at the dollar price-point." [32] Its low prices were established primarily to entice economically disadvantaged customers, but it has also found widespread success among immigrant communities. [31]

Bidding at Family Dollar [ edit ]

Dollar Tree and Family Dollar announced their agreement to merge on July 28, 2014, and the deal was finalized the following day for billion. Purchase of the existing $1 billion in Family Dollar debt brings the total to billion. The sale occurred a month after activist investor and major shareholder[36]Carl Icahn demanded that Family Dollar be put up for sale. [33][34][35] [37] Following the rumored agreement, Dollar General entered the fray and outbid Dollar Tree by . bid of billion on August 18th, 2014 Family Dollar announced on August 20, 2014 that they would not be accepting Dollar General's bid, citing antitrust issues as the primary reason. [38] Since the beginning of the year, when CEO Howard Levine first detailed concerns about antitrust concerns in the event of a merger with Dollar General, the Family Dollar board has been studying the possible consequences of such a merger. [22]

Canada [ edit ]

Items at Dollar Tree stores in Canada cost a maximum of $1.50 Canadian. On October 11, 2010, Dollar Tree announced that it would be purchasing Dollar Giant, a Vancouver, British Columbia–based company that had been founded in 2001, for million. [40][41] Prior to the purchase, Dollar Giant operated about 85 stores across the Canadian provinces of British Columbia, Alberta, Saskatchewan, and Ontario. About 30% of its stores are located in British Columbia, making it the largest dollar store chain there by a wide margin. Among Canadian dollar store chains, it was the fourth largest. All of Dollar Tree's former Dollar Giant stores are now simply called Dollar Tree. These were the company's first stores outside the United States. The majority of the company's 227 retail outlets are located in Western Canada and Ontario. Despite having its corporate headquarters in Burnaby, Greater Vancouver, Dollar Tree Canada's merchandising team is based out of Mississauga, Ontario. [43]

Recalls [ edit ]

Many Dollar Tree products have been recalled by the Consumer Product Safety Commission. Salsa jars with broken glass, hot-melt mini glue guns that could short circuit and cause burns (recalled in January 2008),[44] and candle sets that could produce excessive flame (recalled in February 2004) are just some of the products that have been recalled. [45]

References [ edit ]

Internet resources [ edit ]

• Site officiel
• Statistics about Dollar Tree's business operations: