Dollar Tree

Operates national chain of discount stores.

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Headquarters:
500 Volvo Parkway
Chesapeake, VA 23320
Employees: 18,100
CEO: Bob Sasser
Stock Symbol: DLTR

Website: http://www.dollartree.com

Career Site

Dollar Tree is the nation's leading discount chain. The company operated 13,851 stores across 48 states and five Canadian provinces as of January 30, 2016. Stores operate under the brands of Dollar Tree, Family Dollar, Dollar Tree Canada, and Deals.

Dollar Tree stores carry a broad mix of merchandise that includes many trusted national and regional brands all for only one dollar. Some of the product departments you'll find at Dollar Tree include housewares, glassware, dinnerware, cleaning supplies, candy, snacks, food, health and beauty, toys, gifts, gift bags and wrap, party supplies, stationery, craft supplies, teaching supplies, books, seasonal décor, and more!

The company acquired Family Dollar in 2015 for about $9.1 billion and was forced to sell 330 Family Dollar stores by the Federal Trade Commission to allow the merger.

Family Dollar has over 7,000 stores and sells discounted items at a variety of prices.

For 2015, Dollar Tree reported net sales of $15.5 billion, up 80.2% from $8.6 billion the previous year due to the merger with Family Dollar, and net income of $282.4 million.

CEO Bob Sasser said, "2015 was a very successful year for Dollar Tree. I would like to thank all of our associates for their commitment and hard work throughout the year. We continued to serve our loyal customer base by providing terrific values every day; we successfully completed the acquisition of Family Dollar; we initiated, and remain on schedule with, the integration of our companies; and we are on track to achieve our stated synergy targets. Looking ahead, we are committed to growing and improving our Dollar Tree and Family Dollar businesses to better serve more customers, while delivering long-term value to our shareholders."

During the fourth quarter, the Company opened 128 stores, expanded or relocated 53 stores, closed 28 stores and divested of 325 Family Dollar stores. Additionally, as part of its re-banner initiative, the Company opened 58 former Family Dollar store locations as new Dollar Tree stores during the quarter. The Company also converted 52 Deals stores to Dollar Tree stores in January. Retail selling square footage at the end of the quarter was approximately 108.4 million square feet.

History

1953 - K. R. Perry opened a Ben Franklin variety store in downtown Norfolk, Virginia, which later became K&K 5&10. Through the 1970s and 1980s, K&K 5&10 evolved and grew to a multi-state chain of toy stores, with the assistance of Dollar Tree's founders Doug Perry, Macon Brock and Ray Compton.

1986 - The first Dollar Tree store opened in Dalton, GA. There were five stores open by year end.

1991 - The founders turned their full attention to the growth of the dollar store concept after selling K&K Toys to KB Toys.

1995 - Dollar Tree Stores became a public company on Nasdaq.

1996 - Dollar Bills, Inc., a Chicago-based chain of 136 stores was acquired. The company began building new Store Support and Distribution Center in Chesapeake, VA, which opened in 1997.

1999 - Following the 1998 acquisition of the 98-Cent Clearance Centers in California, the company merged with Only $One stores, based in New York state.

2000 - 2001 - Dollar Tree acquired Dollar Express, Inc., with 136 stores in six Mid-Atlantic states. Distribution centers were opened in Stockton, CA, Savannah, GA, and Briar Creek, PA.

2002 - Topped $2 billion in sales.

2003 - Acquired Greenbacks, Inc., a $1.00 price point retail chain based in Salt Lake City, UT. Opened a new distribution center in Marietta, OK.

2004 - With the opening of the first store in North Dakota, Dollar Tree operates stores in all 48 contiguous states.
Opened two new Distribution Centers: Joliet, Illinois and Ridgefield, Washington. The Joliet DC houses 1.2 million square feet. Installation of point-of-sale scanning technology was completed in all stores. Exceeded $3 billion in sales.

2005 - Introduced a new Metropolitan Store initiative, starting with store openings on Long Island. Expanded installation of freezers and coolers, increased automated store replenishment and widened acceptance of debit and credit cards to provide greater shopping satisfaction to customers.

2006 - Dollar Tree purchased 138 Deal$ stores. Deal$ stores deliver extreme value through variety merchandise sold principally for $1.00.

Benefits

Dollar Tree offers a full range of benefits to associates. Benefits include:

* Medical plan
* Dental plan
* Vision plan
* Prescription drug plan
* Long term disability coverage
* Company paid life insurance
* Voluntary life insurance
* Health and dependent care reimbursement accounts

Financial Future
Dollar Tree recognizes that planning for retirement is very important with its 401(k) plan. The company will match 100% on the first 4% of employee's contribution, which is vested immediately upon eligibility.

In addition, Dollar Tree likes to reward its associates for doing a job well done by offering an employee stock purchase plan and a company funded profit sharing plan to its eligible associates.

Benefits For Part-time Associates

* Medical coverage
* Basic/preventive dental services
* Prescription drug plan coverage
* Life insurance
* Health and dependent care reimbursement accounts

Updated March 2, 2016