Dollar Tree

In 1953, Dollar Tree was founded as a variety store where everything was priced at $1 or less.

The history of Dollar Tree started with a Benjamin Franklin variety store in 1954, which later evolved into the large chain store we know today.

Dollar General Corporation was established in 1955 and provides discount store services with a focus on convenient locations.

Dollar Tree is a variety store chain with over 15 thousand locations in North America. It is known for offering a wide range of products at low prices and has a strong visual identity that has become iconic globally.

In 1959, Family Dollar was founded as a variety store that aimed to provide customers with a neighborhood discount store.

Big Lots, Inc. is a closeout retailer that offers a different assortment of merchandise at discounted prices.

In 1970, the founder of Dollar Tree, along with his son Doug, opened a sister store named K&K Toys. The store quickly gained success and started to expand rapidly with a similar business model.

Despite competition, Dollar Tree has maintained its market presence through strategic store locations, evolving product mix, and a well-recognized brand appealing to cost-conscious consumers.

On April 27, 1989, the first Dollar Tree store opened at the Jessamine Mall in Sumter, South Carolina, introducing the dollar-pricing model as a new shopping concept in America.

The Dollar Tree logo was introduced with a combination of pink and green colors, featuring the first word in pink and the second in green. The logo included arrows between the letters pointing towards '$1.00' in pink, giving it a unique and strong start for the company.

In 1993, the store was rebranded and renamed as 'Dollar Tree'. It has since become widely successful with over 15,115 stores in Canada and the U.S., appealing to a diverse audience.

In 1994, K&K Toys underwent a name change and rebranded as Dollar Tree Stores.

On March 6, 1995, Dollar Tree, Inc. went public on the NASDAQ exchange at $15 a share, with a market cap then calculated at $225 million, marking a significant milestone in the company's history.

In 1996, Dollar Tree acquired Dollar Bill$, Inc., a Chicago-based chain of 136 stores, expanding its presence and market reach in the retail industry.

In 1997, Dollar Tree opened its first distribution center and its new store support center, both located in Chesapeake, Virginia, enhancing its operational capabilities.

In 1998, Dollar Tree acquired 98-Cent Clearance Centers in California.

In 1999, Dollar Tree opened its second distribution center in Olive Branch, Mississippi.

In 2000, Dollar Tree made a strategic decision by acquiring Dollar Express, a Philadelphia-based company.

In 2001, Dollar Tree opened two additional distribution centers, in Savannah, Georgia, and Briar Creek, Pennsylvania.

In 2003, Dollar Tree expanded its portfolio by acquiring Greenbacks, Inc., a company based in Salt Lake City.

Dollar Tree has faced recalls for various products, including salsa jars with broken glass, hot-melt mini glue guns that could cause burns, and candle sets with excessive flame. These recalls were issued by the Consumer Product Safety Commission.

In 2006, Dollar Tree further expanded its presence by acquiring 138 Deal$ stores from SUPERVALU INC.

By 2007, Dollar Tree achieved a market capitalization of $3.29 billion in sales.

In 2008, Dollar Tree earned a place on the Fortune 500 list and had the number-one performing stock that year.

In 2009, Dollar Tree redesigned its website with a new e-commerce platform and opened a store in Washington, D.C.

On October 11, 2010, Dollar Tree acquired Dollar Giant, a Canadian dollar store chain, for $52 million. This acquisition expanded Dollar Tree's presence into Canada, rebranding all Dollar Giant stores to Dollar Tree.

In 2011, Dollar Tree achieved total sales of $6.63 billion, opened 278 new stores, and completed a 400,000 square feet expansion of its distribution center in Savannah, Georgia.

By the end of 2012, Dollar Tree achieved $9.13 billion in sales, fueled by its expansion and growth.

On July 28, 2014, Dollar Tree announced a $9.2 billion bid to acquire competitor chain store Family Dollar.

On August 18, 2014, Dollar General made a competing bid of $9.7 billion for Family Dollar, challenging Dollar Tree's offer.

On August 20, 2014, Family Dollar rejected Dollar General's bid citing concerns over antitrust issues rather than the price. The rejection was based on the belief that the deal could not be completed under the proposed terms.

Dollar Tree acquired Family Dollar in Charlotte, NC, and celebrated the opening of their 15,000th store.

In 2018, Dollar Tree was ranked 134 on the Fortune 500 list of the United States corporations by revenue.

In March 2019, Dollar Tree revealed plans to shut down up to 390 Family Dollar stores and renovate 1,000 other locations as part of its repositioning strategy.

As of 2020, Dollar Tree operates 227 stores in Canada, mainly in Western Canada and Ontario. The company's merchandising team is located in Mississauga, Ontario, with the corporate office in Burnaby, Greater Vancouver.

On March 3, 2021, Dollar Tree launched a combined Family Dollar/Dollar Tree store concept, with the first store opening earlier in the year.

On September 28, 2021, Dollar Tree's CEO announced impending price hikes above $1 due to rising shipping and labor costs.

On November 23, 2021, Dollar Tree revealed plans to increase prices from $1 to $1.25 in response to inflation and investor pressure.

In 2022, Dollar Tree completed the rollout of their $1.25 price-point initiative to all stores in the U.S. This marked the first price change in over 36 years, allowing the company to offer a wider range of items at an incredible value.

Dollar Tree emphasizes operating with integrity, concern for others, and promoting a welcoming and safe environment for customers, associates, and communities. They are focused on environmental stewardship.

On March 13, 2024, Dollar Tree reported a $1.71 billion loss for the latest quarter and announced the closure of nearly 1000 stores.