Dollar Tree is the second-largest U.S. operator of deep-discount retail stores. The company totaled net sales of more than $25.5 billion in its 2020 fiscal year ended Jan. 30, 2021. As of the close of its 2020 fiscal year, the Chesapeake, Va.-based retailer operated 15,685 stores in 48 U.S. states and five Canadian provinces under the banners Dollar Tree, Family Dollar and Dollar Tree Canada.
Dollar Tree for years had been known as the only true “dollar store” discount retailer selling its products for $1 or less, ranging from general merchandise and household essentials to beauty and personal care, food and beverages, and nonedible consumables. That began to change in mid-2019 with the testing of a multi-price initiative dubbed Dollar Tree Plus!, which increased the array of products above $1 and focused on items in pricing tiers of $1, $3 and $5. The program is being expanded to hundreds of stores in 2021.
Dollar Tree’s pricing change in part stems from its July 2015 merger with rival Family Dollar Stores, which offered multiple price points. The $8.5 billion deal, announced in July 2014, joined Matthews, N.C.-based Family Dollar’s more than 8,200 stores in 46 states with Dollar Tree’s 5,080 stores in 48 states and five Canadian provinces. Bigger rival Dollar General had made a hostile bid for Family Dollar in August 2014 but ceased its pursuit of the chain in January 2015 after Family Dollar shareholders voted for the deal with Dollar Tree.
Key Data: Dollar Tree
Headquarters: Chesapeake, Va.
Retail Banners: Dollar Tree, Family Dollar, Dollar Tree Canada
2020 Sales: $25.51 billion
Store Locations: 15,685 (as of Jan. 30, 2021)
CEO: Michael Witynski