What is Dollar Tree changing their name to?
A spokesperson told the Wall Street Journal that the retailer has no plans to change its name. Dollar Tree is the last of the dollar stores to increase its prices above the namesake price point.
Did Dollar Tree get bought out?
On July 28, 2014, Dollar Tree announced that it would buy Family Dollar for $8.5 billion. The sale delivered a windfall to the company's biggest shareholder Carl Icahn, who acquired his 9.4 percent stake in June 2014....Family Dollar.Family Dollar store in Valdosta, GeorgiaParentDollar Tree (2015–)WebsiteFamilyDollar.com13 more rows
When did Family Dollar and Dollar Tree merger?
2015As the two discount brands approach the six-year anniversary of Dollar Tree's $8.5 billion acquisition of Family Dollar in 2015, they continue to face myriad challenges and costs involved in running a vast network of stores, many of which are based in small, economically challenged, rural communities.
When did Dollar Tree change its name?
19931993. The name of the company (Only $1.00) was changed to Dollar Tree Stores to address what could be a multi-price-point strategy in the future.
Who took over Dollar Tree?
(5) Aramark (end 2019-present)
What brands does Dollar Tree own?
Dollar Tree, Inc. owns and operates discount variety stores offering merchandise at the fixed prices. It operates stores under the names Dollar Tree, Deal$, Dollar Tree Deal$, Dollar Giant and Dollar Bills.
Is Family Dollar and Dollar Tree owned by the same company?
"We are pleased to announce we have completed our acquisition of Family Dollar and we formally welcome the Family Dollar team to the Dollar Tree organization," stated Bob Sasser, Chief Executive Officer in the release. Read the full release HERE. So we can verify, Family Dollar is owned by Dollar Tree.
Is Dollar Tree and Family Dollar owned by the same person?
Dollar Tree Completes Acquisition of Family Dollar :: Dollar Tree, Inc.
What company owns Dollar General?
The company began in 1939 as a family-owned business called J.L. Turner and Son in Scottsville, Kentucky, owned by James Luther Turner and Cal Turner....Dollar General.Logo since 2009Dollar General corporate headquarters in Goodlettsville, TennesseeFormerlyJ.L. Turner and SonTypePublicTraded asNYSE: DG S&P 500 Component17 more rows
Why Dollar Tree is no longer having all of their items cost $1?
The company finally walked away from $1 because it was hurting business. It's not an entirely abrupt shift for Dollar Tree, however. In September, Dollar Tree said it planned to begin selling items at $1.25 and $1.50 at some stores for the first time.
Why did Dollar Tree really raised their prices?
Its CEO Michael Witynski said the new prices would allow the company to withstand rising supply chain and labor costs, which were eating into profit margins.
Why are prices going up at Dollar Tree?
Raising prices will give Dollar Tree flexibility to reintroduce those items, expand its selection and bring in new products to draw customers, according to the company. Dollar Tree's move to $1.25 comes with risks for the brand.
What is happening with Dollar Tree?
Dollar Tree started rolling out the $1.25 base price at their stores in late 2021, with all stores converted to the new price tag during the early part of 2022.
Did the dollar store change their name?
But Everything's A Dollar wasn't so thrilled to welcome the competition, so the company sued, forcing Only $1.00 to change its name. The executives came up with a different name: Dollar Tree.
Who bought the dollar store?
(NYSE: DG) today announced that it has entered into an agreement to be acquired by affiliates of Kohlberg Kravis Roberts & Co. L.P. ("KKR") in a transaction with a total value of approximately $7.3 billion, including approximately $380 million of net debt.
Who owns the dollar store company?
An investment group consisting of affiliates of Kohlberg Kravis Roberts (KKR), GS Capital Partners (an affiliate of Goldman Sachs), Citigroup Private Equity and other co-investors completed an acquisition of Dollar General Corporation for $6.9 billion.
Why did Dollar Tree change its name?
The name of the company ( Only $1.00) was changed to Dollar Tree Stores to address what could be a multi-price-point strategy in the future. Part equity interest was sold to SKM partners, a private equity firm.
Who is the President of Dollar Tree?
Bob Sasser was promoted to President and Chief Executive Officer. Macon Brock continues as Chairman of the Board. Dollar Tree 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.
Where is Family Dollar located?
On July 6, the Company acquired Family Dollar located in Charlotte, North Carolina.
Is Dollar Tree a Fortune 500 company?
2008 was another milestone year for Dollar Tree as the Company earned a place in the Fortune 500, the only company to do that “A Dollar at a Time.” The Company also had the number-one performing stock in the entire Fortune 500 for that year.
How many Dollar Tree stores will close in 2019?
In March 2019, as part of its reposition plan, Dollar Tree announced that it will close up to 390 Family Dollar stores along with renovating 1,000 other locations.
How many stores did Dollar Tree open in 2011?
In 2011, Dollar Tree achieved total sales of $6.63 billion, opened 278 new stores, and completed a 400,000 square-foot expansion of its distribution center in Savannah, Georgia.
What is the dollar tree?
Map of Dollar Tree stores in USA, as of December 2020. Dollar Tree, formerly known as Only $1.00, is an American chain of discount variety stores that sells items for $1 or less.
How much did Dollar Tree buy Family Dollar?
On July 28, 2014, Dollar Tree announced that it was offering $9.2 billion for the purchase of competitor chain store Family Dollar. On August 18, 2014, Dollar General lodged a competing bid of $9.7 billion for Family Dollar.
What products are recalled at Dollar Tree?
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.
When did Dollar Tree acquire $One?
In 1999, Dollar Tree acquired Only $One stores based in New York state. That same year, the company opened its second distribution center in Olive Branch, Mississippi .
When did Dollar Tree go public?
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.
Why did Sycamore sell 323 stores?
The 323 stores were part of a 330-store package sold to Sycamore in order to meet federal antitrust approval of Dollar Tree’s acquisition of Family Dollar in 2015.
Why did Dollar Tree win the bid?
Dollar Tree’s $8.5 billion bid prevailed in that contest despite a $9.7 billion counteroffer from Dollar General — in part because of the perceived antitrust risk to the latter deal.
Where is Dollar General located?
The Charlotte Observer newspaper reported that as many as 100 home office jobs could be lost in the deal. Dollar General is based in Goodlettsville, Tenn.
Breaking the buck
Dollar Tree had taken steps in recent years to raise prices on some items.
An opportunity for Dollar General
Price remains the most significant factor for many Dollar Tree shoppers and moving away from $1 may drive them elsewhere.
When did Dollar Express close?
In mass layoff notices filed with several states, the company said “Dollar Express has made the difficult decision to liquidate and close all of its stores on approximately June 30, 2017. ”.
Did Dollar Tree buy out Family Dollar?
The transaction caps off a dizzying period of uncertainty for these particular stores and their employees. Back in July 2014, they expected to become part of Dollar Tree, when the rival dollar store chain announced its intention to buy out Family Dollar. Then it looked like the Family Dollar stores might turn into Dollar General, when that chain swooped in with its own buyout offer. Dollar Tree won the buyout battle, but in order to gain regulatory approval for the deal, it agreed to sell 330 stores to Sycamore, which announced plans to turn them all into a new chain called Dollar Express. And now they’ve been sold to Dollar General after all.
Who owns Dollar Express?
Dollar Express owner Sycamore Partners has announced that it will sell “all 323 of its store locations” to Dollar General. A company spokesman would not elaborate on what became of the seven other stores that were originally part of the 330-store package, nor did the company say what prompted its decision to sell.
Is Dollar Express still a family dollar store?
Remember when 330 Family Dollar stores across the country were sold a couple of years ago, and slated to be rebranded as part of a brand-new dollar store chain called Dollar Express? If your local store was on the list, you probably haven’t noticed any changes yet. They’re all still operated as Family Dollar stores, because the official rebranding wasn’t scheduled to occur until next month.
Will Dollar General have two stores down the street?
Plus, many of the newly-acquired locations are very close to existing Dollar General stores, so it’s unlikely that two Dollar Generals will coexist down the street from each other. Depending on the age, size and condition of the Dollar Express-owned stores, Dollar General may choose to relocate nearby stores into the new buildings and close down the old, as it did when it acquired dozens of former Walmart Express stores last year. Or it may decide to keep its existing locations and close down the new ones.
Did Dollar Tree buy out Sycamore?
Dollar Tree won the buyout battle, but in order to gain regulatory approval for the deal, it agreed to sell 330 stores to Sycamore, which announced plans to turn them all into a new chain called Dollar Express. And now they’ve been sold to Dollar General after all.
1953
- K. R. Perry opened a Ben Franklin variety store in downtown Norfolk, Virginia, which he later renamed K&K 5&10.
1970
- Macon Brock, Doug Perry, and K.R. Perry started K&K Toys in Norfolk, Virginia. This mall concept toy store grew to over 130 stores on the East coast. The K&K 5&10 store continued to exist and served as the foundation for what would become Dollar Tree.
1986
- Macon Brock, Doug Perry, and Ray Compton started Only $1.00 with 5 stores, one in Georgia, one in Tennessee, and three in Virginia. The expansion of dollar stores was continued alongside K&K Toysstores, mostly in enclosed malls.
1991
- K&K Toys was sold to KB Toys, a Melville Corp., and all assets were applied to the expansion of the dollar stores.
1993
- The name of the company (Only $1.00) was changed to Dollar Tree Stores to address what could be a multi-price-point strategy in the future. Part equity interest was sold to SKMpartners, a private equity firm.
1995
- Dollar Treewent public on the NASDAQ exchange in March at $15 a share. Market cap was calculated at $225 million.
1997
- Dollar Treebroke ground on its first Distribution Center and its new Store Support Center, both located in Chesapeake, Virginia.
1999
- A second distribution center was opened in Olive Branch, Mississippi. Bob Sasser was hired as Chief Operating Officer. Dollar Tree acquired Only $One Storeslocated in New York.
2000
- Dollar Tree acquired Dollar Express, a Philadelphia-based company, and also opened a new Distribution Center in Stockton, California.
2001
- Bob Sasser was promoted to President and Chief Operating Officer. Dollar Treeopened two additional Distribution Centers, one in Savannah, Georgia, and one in Briar Creek, Pennsylvania.