In 2004, Dollar Tree opened its first store in North Dakota which marked its operation of stores in all 48 contiguous states.
In 2003, Dollar Tree acquired Salt Lake City, Utah-based Greenbacks, Inc., and opened a new distribution center in Marietta, Oklahoma. In 2001, the company opened two additional distribution centers, in Savannah, Georgia, and Briar Creek, Pennsylvania. In 2000, Dollar Tree acquired Dollar Express, a Philadelphia-based company, and also built a new distribution center in Stockton, California. This Dollar Tree store in Northwood, Ohio, is one of the few stores that continues to use the defunct Super Dollar Tree banner. That same year, the company opened its second distribution center in Olive Branch, Mississippi. In 1999, Dollar Tree acquired Only $One stores based in New York state. In 1998, Dollar Tree acquired 98-Cent Clearance Centers in California. In 1997, the company opened its first distribution center and its new store support center, both located in Chesapeake, Virginia. In 1996, Dollar Tree acquired Dollar Bill$, Inc., a Chicago-based chain of 136 stores. went public on the NASDAQ exchange at $15 a share, with a market cap then calculated at $225 million.
īrock and the co-founders of Dollar Tree got the idea for the company from another retailer known as Everything's A Dollar, which went bankrupt in the 1990s. In 1993, the name Only $1.00 was changed to Dollar Tree Stores to address what could be a multi-price-point strategy in the future, and part equity interest was sold to SKM partners, a private equity firm. In 1991, the corporation made a decision to focus exclusively on the expansion of dollar stores after selling K&K stores to KB Toys, owned by Melville Corporation. The expansion of dollar stores was continued alongside K&K Toys stores, mostly in enclosed malls. In 1986, Doug Perry, Macon Brock, and Ray Compton started another chain store called Only $1.00 with five stores, one in Georgia, one in Tennessee, and three in Virginia. This mall concept grew to over 130 stores on the East Coast. Perry, Doug Perry, and Macon Brock started K&K Toys in Norfolk, Virginia. Perry opened a Ben Franklin variety store in Norfolk, Virginia, which later became known as K&K 5&10. In August 2012, the company began accepting manufacturer's coupons at all of its store locations. Most Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods. 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. Each Dollar Tree stocks a variety of products including national, regional, and private-label brands. Additionally, the company operates stores under the name of Dollar Bills, as well as a multi-price-point variety chain under the Family Dollar banner.ĭollar Tree competes in the dollar store and low-end retail markets. Its stores are supported by a nationwide logistics network of 24 distribution centers.
Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 15,115 stores throughout the 48 contiguous U.S. Map of Dollar Tree stores in USA, as of December 2020 ĭollar Tree, formerly known as Only $1.00, is an American multi-price-point chain of discount variety stores.