Dollar Tree
| File:Dollartree.jpg | |
| Company type | Public (Nasdaq: DLTR) |
|---|---|
| Industry | Retail, Backstocking |
| Founded | 1986 |
| Headquarters | Chesapeake, Virginia, U.S. |
Key people | Bob Sasser, CEO |
| Products | Snacks, Toys, Books, Food, Housewares, Dollar Closeouts |
| Revenue |  $4.6 Billion USD (2008) |
| $365.8 Million USD (2008) | |
| $229.5 Million USD (2008) | |
Number of employees | 12,700 |
| Website | http://www.dollartree.com/ |
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Dollar Tree Stores, Inc. (Nasdaq: DLTR) is an American chain of retail stores headquartered in Chesapeake, Virginia. Every item sold in the stores is offered for either $1.00 or less, thus making it a true dollar store.
Dollar Tree competes in the dollar store and low-end retail markets with the national chains Family Dollar, Big Lots and Dollar General together with regional chains such as 99 Cents Only Stores, Fred's and many independent dollar stores nationwide.
Dollar Tree has recently expanded into the grocery business further with the addition of frozen foods and dairy at some stores. Products include milk, punch, pizza, ice cream, frozen dinners and pre-made baked goods.
Another expansion is their purchase of the Deals chain of stores. Deals stores sell items up to $5. Although they still have many dollar items, the addition of items up to $5 allows them to sell a larger variety of items including frozen and other foods at low prices.
As of November 1, 2008[update], Dollar Tree operates 3,591 stores in the 48 contiguous states.[1]
History
Dollar Tree traces its origins to 1953 when company founder K.R. Perry opened a Ben Franklin store in downtown Norfolk, Virginia. Along with Doug Perry, Macon Brock and Ray Compton, he eventually turned the store into K&K 5&10, a five and dime. A number of additional K&K stores were opened. By the 1970s and 1980s, the chain came to concentrate on toys.[2]
In 1986, the company opened its first Dollar Tree store in Dalton, Georgia. By 1991, the company decided to focus exclusively on the Dollar Tree line and sold the K&K stores to KB Toys. The company came to be known as Dollar Tree Stores, and by 1995 was traded on NASDAQ.[2]
Since that time the company has focused on expanding its presence nationwide. In 1996, Dollar Tree bought the Dollar Bill$ chain, which were predominantly in Illinois and Missouri (while the stores retained their original names, they were stocked with Dollar Tree items). In 1999, Dollar Tree merged with the Only $One stores based in New York state. In 2001, Dollar Tree acquired Dollar Express, with 136 stores in six Mid-Atlantic states. In 2003, Dollar Tree bought Greenbacks All-A-Dollar stores. In 2006, Dollar Tree bought Deal$ stores (previously owned by Save-A-Lot). The Company's stores operate under the names of Dollar Tree, Deal$, Dollar Bills and Dollar Express.[2]
Return policy
Dollar Tree's policy is not to refund purchases for any reason, although merchandise can be exchanged with a receipt. This policy is shown on the backs of receipts and usually at the register. [citation needed]
Recalls
The Consumer Product Safety Commission lists several recalls for products sold at Dollar Tree stores. The recalled products include short circuiting hot glue guns which caused burns[3] and candle sets which produced excessive flame[4].