Dollar Tree, Inc. - An American network of fixed-price stores selling goods at a price of $ 1. The company is headquartered in Chesapeake ( Virginia ), and the network itself is on the Fortune 500 list and has 13,600 stores in 48 US states and Canada . The company's stores operate under the names Dollar Tree and Dollar Bills. In addition, the network is owned by Deals discounters.
| Dollar tree | |
|---|---|
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| Type of | Public company ( ) |
| Exchange listing | |
| Base | 1991 |
| Location |  USA Chesapeake ( Virginia ) |
| Key figures | Bob Sasser ( CEO ) |
| Industry | Retail , Fixed Price Shop , Discounter |
| Turnover | ▲ $ 20.719 billion (2016) |
| Net profit | ▲ $ 896.2 million (2015) |
| Number of employees | more than 145 thousand (2015) |
| Divisions | Dollar tree canada |
| Site | www.dollartree.com |
Content
History
In 1954, Kay Ar Perry opened the Ben Franklin fixed price store in Norfolk, Virginia, which later became known as K&K 5 & 10. In 1970, Kay Ar Perry, Doug Perry, and Macon Brock founded K&K Toys and soon had 130 stores across the US East Coast . In 1986, Doug Perry, Brock, and Ray Compton founded another chain of stores called Only $ 1.00. Under this name, there were five stores in Georgia, Tennessee and Virginia. In 1991, the corporation decided to focus on the development of fixed-price stores and sold its K&K division to KB Toys .
In 1993, the network changed its name from Only $ 1.00 to Dollar Tree Stores in order to be able to sell products at different prices in the future. At the same time, part of the company was sold to the private company SKM partners. March 5, 1995 Dollar Tree, Inc. placed its shares on the NASDAQ . The company's capitalization amounted to 225 million dollars. In 1996, Dollar Tree acquired the Chicago-based Dollar Bill $, Inc. chain of 136 stores, in 1998, 98-Cent Clearance Centers, and in 1999, only $ One.
In November 2010, Dollar Tree announced the purchase of the Canadian Dollar Giant chain, which had 86 stores in British Columbia , Ontario , Manitoba , Alberta, and Sasktchewan. [1]
On July 28, 2014, the company announced that it had offered $ 9.2 billion to buy the rival Family Dollar network. On August 18, 2014, another network of Dollar General offered $ 9.7 billion to Family Dollar [2] , but the company’s board of directors rejected it, saying it intended to enter into a deal with Dollar Tree [3] . In January 2015, Dollar Tree announced the sale of 300 stores so that the US antitrust committee would not veto the purchase of Family Dollar [4] . In June, the company agreed to sell 330 stores to the private company Sycamore Partners [5] .
Business Strategy
Dollar Tree offers goods at the lowest prices. The company claims that it was able to achieve this because their customers “work hard to find the best deals with them” and has “great control over the huge purchasing power of one dollar” [6] . Network prices are primarily designed to attract low-income people, but they have also become popular among richer customers [7] .
Notes
- ↑ Dollar Giant is now Dollar Tree Canada! - Dollar Tree Canada . dollartreecanada.com . Date of treatment May 17, 2015. Archived June 16, 2015.
- ↑ Race to buy Family Dollar heats up with Dollar General hiking bid to $ 8.95 bn , Business Sun (18 August 2014). Archived August 21, 2014. Date of treatment August 19, 2014.
- ↑ Family Dollar rejects $ 9.7 bn acquisition bid by Dollar General , Charlotte News.Net (August 21, 2014). Date of treatment August 22, 2014.
- ↑ Reuters (12 January 2015). Dollar Tree expects to shed less than 300 stores to buy Family Dollar . Press release .
- ↑ Dollar Tree to sell 330 Family Dollar stores to Sycamore Partners, Reuters, 29 May 2015
- ↑ Dollar Tree, Inc .: Frequently Asked Questions . Dollar tree Date of treatment May 17, 2015.
- ↑ The Dollar Store Economy - The New York Times