Does Dollar Tree own the Family Dollar Brand?
Yes, Dollar Tree owns Family Dollar. Dollar Tree acquired Family Dollar in July 2015. Shareholders of Family Dollar received $59.60 in cash and 0.2484 of a share of Dollar Tree common stock for every share of Family Dollar owned. The Bidding War Dollar Tree was in a bidding war with Dollar General to acquire Family … Does Dollar Tree Own Family Dollar? Read More »
How much do Dollar Tree owners make?
Dollar tree employees earn an average of $28,100 per year, which is $13.51 an hour. Grocery store owners make anywhere from $60,000 up to around $300,000 or more. How Much Does A Dollar Store Employee Make A Year, The demand for apparel is one of the highest after food. Dollar tree stores inc employees. How Much Money Do Doctors Make?
Who is the owner of the Dollar Tree?
The Dollar Tree franchise was founded 32 years ago in Norfolk, Virginia. Today, its headquarters is located at Chesapeake, Virginia, US. Its founders include Dennis Edwards, Ray Compton, Macon Brock, and Doug Perry. This franchise was formerly called Only $1. Gary Philbin is its current CEO.
Who owns Dollar Tree Company?
Dollar Tree is a publicly-traded steep-discount retail chain that is owned by the parent company Dollar Tree, Inc. Founded in Norfolk, VA, by K.R. Perry, and initially known as Only $1.00 from 1986 until 1993, Dollar Tree is currently led by CEO Mike Witynski, who previously served as COO.
Who is dollar store owned by?
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.
Are Family Dollar and Dollar Tree owned by the same company?
With over 8,000 locations in all states except Alaska and Hawaii, it was the second largest retailer of its type in the United States until it was acquired by Dollar Tree in 2015 and its headquarters operations were moved from Matthews, a suburb of Charlotte, North Carolina, to Chesapeake, Virginia, located in South ...
Who is the CEO of the Dollar Tree?
Michael A. Witynski (Jul 2020–)Dollar Tree / CEOMike Witynski Mike brings more than 40 years of knowledge and experience in the retail industry to his role as President and Chief Executive Officer of Dollar Tree, Inc.
Who founded Dollar Tree?
Macon F. Brock, Jr.Dollar Tree / Founder
Why is Dollar Tree changing their name?
All Dollar Tree merchandise costs just $1 However, until 1993, it used to be called "Only $1." According to Money Inc, the company decided to change the name to "Dollar Tree" in order to avoid any potential conflicts, if they were to price any of their merchandise higher than a dollar at some point in the future.
Why are Dollar Tree items so cheap?
Sometimes, products hit the dollar stores because of damage or lack of freshness. BUT, they are often just offered cheaper because they operate on slimmer margins than grocery stores. Many items were surplus or overstock items from a company.
How much does it cost to own a Dollar Tree?
Opening a Dollar Tree Franchise First, you will need the funds to purchase the initial franchise from the corporation you choose, which tends to be around $80,000 for similar stores. This amount is sizeable, so there are a few ways to come up with it if you don't have the cash in hand, which many people do not.
How much does a CEO Dollar Tree make?
$10,249,698Compensation by CompanyName And TitleTotal CompensationMichael Witynski President and Chief Executive OfficerTotal Compensation $10,249,698 View detailsRichard McNeely Enterprise Chief Merchandising OfficerTotal Compensation $3,300,860 View details3 more rows
How much does Dollar Tree pay its CEO?
Michael Witynski, who was promoted to President and CEO of Dollar Tree in July 2020, had total compensation of $10,767,887. As part of his promotion, Witynski's salary increased by 23.8% from $857,692 to $1,184,615. He also received a cash award of $2,433,210, and an option award valued at $7,088,690.
Where is the largest Dollar Tree located?
Burlington, North CarolinaI went to the World's Largest Dollar Tree ! Today I take you around the World's Largest Dollar Tree located in Burlington, North Carolina. Come Dollar Tree sho...
What does the Dollar Tree logo mean?
The Dollar Tree logo represents a reputable business which endeavors to fulfill all the needs of its customers. Also, it reflects Dollar Tree's values of quality and its commitment to offering affordable goods. A tree is an apt logo for a store like Dollar Tree.
How does Dollar Tree make money?
By keeping stores small and employees at a minimum, dollar stores are able to convert a larger portion of sales into profit. According to 2012 figures, Dollar Tree captured 35 cents of profit for each dollar of revenue compared to 24.1 cents per dollar at Walmart. For third quarter 2021, figures remained comparable.
What's the difference between Dollar Tree and Family Dollar?
In her experience, “Dollar Tree offers a wider variety of products for a single dollar, while Family Dollar has a more limited selection but often offers sales and discounts.”
When did Dollar Tree and Family Dollar merge?
As 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.
Are Dollar General and Dollar Tree the same?
Dollar Tree and Dollar General are the largest dollar stores in the United States and are neck-and-neck in terms of store count and annual sales. Based on numbers alone, the two chains are almost identical. However, there are some big differences in the shopping experiences you'll have at these stores.
Is Dollar Tree Buying Out Family Dollar?
“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.
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.
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.
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.
When did Dollar Tree start?
Image. A Dollar Tree store in Miami. The chain began in Virginia in 1986, the brainchild of Mr. Brock and two others. Credit... Joe Raedle/Getty Images. The business thrived until the emergence of Toys “R” Us, the big-box store that threatened smaller stores like K & K.
Where did Brock go to high school?
He graduated from Granby High School in 1960 and studied Latin at Randolph-Macon College, where he and his wife would become the largest donors in the college’s history. Mr. Brock also served as a Marine captain in the Vietnam War and later as a Naval Intelligence officer.
Who is Macon Brock?
Macon Brock, the founder of the Dollar Tree discount chain, and his wife, Joan Perry Brock, who worked for years in the company’s payroll department and traveled with him worldwide in search of products.
Did Everything's a Dollar sue Dollar Tree?
Everything’s a Dollar was not the country’s only other dollar store, but the company did sue Only $1.00, forcing it to change the name of stores in overlapping markets to Dollar Tree. The name eventually stuck.
Who wrote "We ripped off what they wanted to be. Not what they were"?
Brock, who had been traveling to Asia for the toy business and had a nose for merchandising, believed he could improve on the idea. “We ripped off what they wanted to be. Not what they were,” he wrote, adding, “We hoped to occupy the same role in the dollar business that Henry Ford had in the car business.”.
Who is Brock's wife?
His wife, Joan Perry Brock, who worked for years in the company’s payroll department, traveled with him “all over the whole world looking for product, places you wouldn’t even think of,” she said in a phone interview. But when they mentioned their price points, many potential suppliers were befuddled.
Overview
Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 15,115 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of 24 distribution centers. Additionally, the company operates stores under the name of Dollar Bills, as w…
History
In 1953, K. R. Perry opened a Ben Franklin variety store in Norfolk, Virginia, which later became known as K&K 5&10.
In 1970, K. R. Perry, Doug Perry, and Macon Brock started K&K Toys in Norfolk, Virginia. This mall concept grew to over 130 stores on the East Coast.
In 1986, Doug Perry, Macon Brock, and Ray Compton started another chain store called …
Business strategy
Dollar Tree is classified as an extreme discount store. It claims to be able to achieve this because their buyers "work extremely hard to find the best bargains out there", and it has "great control over the tremendous buying power at the dollar price-point". Its prices are primarily designed to attract financially disadvantaged customers, but it has also become popular within immigrant communities.
Canada
Dollar Tree stores in Canada sell items for C$1.50 or less. On October 11, 2010, Dollar Tree announced its acquisition of Dollar Giant, originally incorporated in 2001 in Vancouver, Canada, for $52 million. At the time of the acquisition, Dollar Giant had about 85 retail outlets in the provinces of British Columbia, Alberta, Saskatchewan and Ontario. Approximately 30 of its retail locations are in British Columbia, making it the second largest dollar store chain in that province. It was Cana…
Recalls
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.
External links
• Official website
• Business data for Dollar Tree:
1953
1970
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.