Dollar Tree to open 170 new stores in former 99 Cent locations - Revista Merca2.0 | (2024)

FAQs

Did Dollar Tree buy the 99 Cent store? ›

The retailer also bought up the rights to 170 store leases, with plans to rebrand and reopen them “as early as fall 2024.”

As part of its winning bid, Dollar Tree also acquired the North American Intellectual Property of 99 Cents Only Stores and select on-site furniture, fixtures and equipment.

Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores.

Dollar General Corporation is an American chain of discount stores headquartered in Goodlettsville, Tennessee. As of January 8, 2024, Dollar General operated 19,643 stores in the continental United States and Mexico. Dolgencorp, LLC.

No Walmart does not own Dollar General. They are both two separate and independent retail companies. Both trade their stock publicly. Walmart has the ticker symbol WMT.

He added, "These communities are dependent on these stores." Dollar Tree, which acquired Family Dollar for more than $8 billion nearly a decade ago, has not released a comprehensive list of the locations it is closing.

History. The chain began with a single store in 1998, founded by Russ and Sherry Meszaros.

With over 370 stores in four states and two distribution centers in California and Texas, 99 Cents Only Stores became the leading extreme value retail chain in the Western United States.

99 Cents Only was an L.A. icon.

The first 13 customers who walked into 99 Cents Only at its Grand Opening in 1982 got an extra special deal: 99 cent televisions. Founder David Gold didn't look back. Within two years, the family opened two more locations.

Building Across America Like No Other Retailer Can

We are changing that. Building on the success of both brands, we have created a new format bringing together two of your favorite brands — Dollar Tree and Family Dollar — under one roof.

Is Family Dollar owned by China? ›

Dollar Tree acquired Family Dollar in 2015. Therefore, all Family Dollar stores are owned by Dollar Tree, Inc.

Dollar Tree, which focuses more on middle-income shoppers in suburbs, bought Family Dollar in 2015 for $8.5 billion. The combined company hoped that by joining forces, it could grow its customer base, reduce costs and fend off bigger retailers like Dollar General, which is mainly in rural areas.

In an effort to cater to customers who want a more upscale shopping experience, Dollar General is opening retail locations that operate under a different brand. These stores are called pOpshelf, and they're meant to appeal to wealthier and more suburban customers.

After Turner family successfully ran the Dollar General business from 1955 to 2003, David Perdue was the first outside CEO and led the company for four years before KKR acquired Dollar General in 2007.

However, when it comes to the ownership of Walmart stores in America, there is no evidence to suggest that China holds any ownership stake. Walmart, a multinational retail corporation, was founded by Sam Walton in 1962 and is still largely controlled by the Walton family.

Dollar Tree is owned by Dollar Tree, Inc. Rick Dreiling has served as the CEO of the company since January 2023 and has held the role of Executive Chairman on the Board of Directors since March 2022.

Early in the 1990s, K&K Toys was sold to KB Toys, a Melville Corp., and all assets were used to expand dollar stores. We underwent a name change to Dollar Tree Stores in 1994. Then in 1995, we went public on the NASDAQ exchange at $15 a share.

Purchase Cost

Dollar stores buy a lot of inventory at a time so they can sell things cheaply. Much of the inventory dollar stores purchase cost less than a $1 because they're damaged. But it's buyer beware with items like toys, which can break easily at times.

Even though Dollar General has the word “dollar” in its name, everything in the store doesn't go for a buck; their merchandise is just low priced. Family Dollar is another chain that has the word “dollar” in its name but sells items for more than a buck.