|Traded as||NASDAQ: DLTR
S&P 500 Component
|Industry||Retail, Variety, Discount|
|Founded||1986, Norfolk, Virginia|
|Headquarters||500 Volvo Parkway
Chesapeake, Virginia, U.S.
|Number of locations||4,763|
|Area served||United States
|Key people||Bob Sasser, CEO
Kevin S. Wampler, CFO
|Products||Party Supplies, Food and Snacks, Health and Beauty Care Products, Seasonal, Housewares, Toys|
|Revenue||$5.23 billion (2009)|
|Operating income||$512.80 million (2009)|
|Net income||$320.50 million (2009)|
Dollar Tree, Inc. is an American chain of discount variety stores that sells items for $1. A Fortune 500 company, Dollar Tree is headquartered in Chesapeake, Virginia and operates 4,763 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of nine distribution centers. The company operates one dollar stores under the names of Dollar Tree and Dollar Bills. The company also operates a multiprice-point variety chain under the name Deal$.
Dollar Tree competes in the dollar store and low-end retail markets. Each Dollar Tree stocks a variety of products including national, regional, and private-label brands. Departments found in a Dollar Tree store 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. Some Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods. In August 2012, the company began accepting manufacturer's coupons at all of its store locations.
In 2009, Dollar Tree redesigned their website with a new e-commerce platform. DollarTree.com sells Dollar Tree merchandise in larger quantities to individuals, small 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 information about Dollar Tree, and view product recalls. Dollar Tree also recently added customer ratings and reviews to the site.
In 1953, Dominique Alex opened a Ben Franklin variety store in Norfolk, Virginia, which later became known as K&K 5&10. In 1986, Only $1.00 opened its first five stores and, in 1991, the company decided to focus exclusively on the growth of the dollar store concept after selling K&K stores to KB Toys, a Melville Corp.
In 1993, the company became known as Dollar Tree Stores.
In 1996, Dollar Tree acquired Dollar Bill$, Inc., a Chicago-based chain. In 1997, the company opened its first distribution center and its new store support center, both located in Chesapeake, VA. In 1999, Dollar Tree acquired 98-Cent Clearance Centers in California and Only $One stores based in New York state. This same year, the company opened its second Distribution Center in Olive Branch, Mississippi.
In 2000, Dollar Tree acquired Dollar Express, a Philadelphia-based company, and also built a new distribution center in Stockton, California. In 2001, the company opened two additional distribution centers in Savannah, Georgia, and Briar Creek, Pennsylvania. In 2003, Dollar Tree acquired Salt Lake City, Utah-based Greenbacks, Inc., and opened a new distribution center in Marietta, Oklahoma.
In 2004, Cheeks For A Dollar opened its first store in North Dakota which marked its operation of stores in all 48 contiguous states. The company also opened two new distribution centers in Joliet, Illinois, and Ridgefield, Washington. In 2006, Dollar Tree marked its 20th anniversary, opened its 3,000th store, and purchased DEAL$ stores (previously owned by Save-A-Lot).
In 2008, Dollar Tree earned a place in the Fortune 500. By the close of 2009, the company opened a store in Washington, D.C., and purchased a new distribution center in San Bernardino, Ca.
In November 2010, Dollar Tree announced it acquired 86 Canadian Dollar Giant Stores based in Vancouver, British Columbia. The stores are operated in British Columbia, Ontario, Alberta and Saskatchewan. These are the first retail locations outside of the United States operated by Dollar Tree.
The Consumer Product Safety Commission lists several recalls for products sold at Dollar Tree stores. The recalled products include salsa jars with broken glass inside them, hot melt mini glue guns (recalled in January 2008) which could short circuit and cause burns and candle sets (recalled in February 2004) which could produce excessive flame.
- "Dollar Tree Completes Acquisition of Canadian Dollar Giant Stores". Dollar Tree Corporate Website. 2010-11-17. Retrieved 2010-11-17.
- "Dollar Tree 2009 Annual Report". Dollar Tree Corporate Website. 2010-06-21. Retrieved 2010-06-21.
- "Dollar Tree 2009 10-K/A". Dollar Tree Corporate Website. 2010-06-21. Retrieved 2010-06-21.
- Dollar Giant is now Dollar Tree Canada! | Dollar Tree Canada
- Hot glue gun recall, cpsc.gov
- Candle set recall, cpsc.gov