Dollar Tree Company History Timeline

(26,960 Jobs)
1986

The company was founded by J. Douglas Perry and Macon F. Brock, Jr. in 1986 and is headquartered in Chesapeake, VA.“

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.

In 1986, Doug Perry, Macon Brock, and Ray Compton started another chain store called Only $1.00 with five stores, one in Georgia, one in Tennessee, and three in Virginia.

1991

In October 1991, they sold the toy chain, then one of the largest mall-based toy retailers in the country, to a subsidiary of Melville Corporation, and turned their full attention to their discount operation.

1991 – K&K Toys was sold to KB Toys;, a Melville Corp., and all assets were applied to the expansion of the dollar stores.

1991: The three men sell K&K Toys in order to focus their full attention on the discount operation.

In 1991, the corporation made a decision to focus exclusively on the expansion of dollar stores after selling K&K stores to KB Toys, owned by Melville Corporation.

1993

In 1993, they renamed the brand “Dollar Tree” as part of a rebranding strategy.

During 1993, Macon Brock, Jr., was named CEO, the company changed its name to Dollar Tree Stores, Inc., and Dollar Tree continued its expansion, gaining a net 72 new stores, all of which were located in strip shopping centers.

By the end of 1993, the chain had 328 locations, sales of $167.8 million, and net income of $9.5 million.

A New Name and Continued Growth: 1993-95

In 1993, the name Only $1.00 was changed to Dollar Tree Stores to address what could be a multi-price-point strategy in the future, and part equity interest was sold to SKM partners, a private equity firm.

1994

The company continued its successful formula in 1994, expanding to 409 stores, with sales topping the $200 million mark for the first time to reach $231.6 million.

1995

1995 – Dollar Tree went public on the NASDAQ exchange in March at $15 a share.

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.

In 1995, it went public on the NASDAQ exchange at $15 a share, with a market value of $225 million.

The company began 1995 with the creation of two subsidiaries, Dollar Tree Management, Inc. and Dollar Tree Distribution, Inc.

The company began the year 1995 with the creation of two subsidiaries, Dollar Tree Management, Inc. and Dollar Tree Distribution, Inc.

1996

In January 1996, the company bought Dollar Bills, Inc. for approximately $52.6 million in cash and $2 million in inventory.

1996 – Dollar Tree acquired Dollar Bill$, Inc., a Chicago-based chain of 136 stores.

The company estimated that in 1996, 85 to 90 million people shopped in its stores, which operated under the names of Dollar Tree, Dollar Bills, and Only $1.00.

1996: Acquired Dollar Bills, Inc.

The company ended 1996 with 737 stores and sales up more than 64 percent, to $493 million.

Several, including Jamesway Corp., Ben Franklin Retail Stores, 50-Off Stores, and Solo Serve Corp. were no longer publicly traded by the end of 1996.

Net earnings increased from $33.8 million in 1996 to $48.6 million.

Acquisition of Dollar Bills, Inc.: 1996

Several, including Jamesway Corporation, Ben Franklin Retail Stores, 50-Off Stores, and Solo Serve Corporation were no longer publicly traded by the end of 1996.

1996: Dollar Bills Inc. is acquired.

In 1996, Dollar Tree acquired Dollar Bill$, Inc., a Chicago-based chain of 136 stores.

1997

In January 1997, Dollar Tree began construction, at an estimated cost of $34 million, of a Store Support Center in Chesapeake, Virginia, 10 miles from its Norfolk location.

In January 1997, Dollar Tree began construction, at an estimated cost of $34 million, of its Store Support Center in Chesapeake, Virginia, ten miles from its Norfolk location.

1997 – Dollar Tree broke ground on its first Distribution Center and its new Store Support Center, both located in Chesapeake, Virginia.

During 1997, the company continued to grow according to its expansion play, opening a net 150 new stores and reaching 887 locations.

In 1997, the company opened its first distribution center and its new store support center, both located in Chesapeake, Virginia.

1998

Staff moved into the new corporate headquarters at the Store Support Center before the year ended, and the new, automated distribution center began operating in January 1998.

1998 – On December 10, the Company acquired 98-Cent Clearance Centers located in California.

In 1998, the company purchased 98 Cents Clearance Centers, a California-based chain owned by Step Ahead Investments Inc.

1998: The company adds California-based 98 Cent Clearance Centers to its arsenal.

In 1998, Dollar Tree acquired 98-Cent Clearance Centers in California.

1999

1999 – A second distribution center was opened in Olive Branch, Mississippi.

1999 saw it grow yet further when it bought up the Only $One stores in New York.

The Olive Branch center, some 425,000 square feet in size, began operation in early 1999--the same year the company surpassed $1 billion in sales.

In 1999, Dollar Tree acquired Only $One stores based in New York state.

2000

2000 – Dollar Tree acquired Dollar Express, a Philadelphia-based company, and also opened a new Distribution Center in Stockton, California.

2000: Expansion continues with the purchase of Dollar Express Inc.

In 2000, Dollar Tree acquired Dollar Express, a Philadelphia-based company, and also built a new distribution center in Stockton, California.

2001

2001 – Bob Sasser was promoted to President and Chief Operating Officer.

In 2001, Dollar Tree began implementing a point-of-sale (POS) scanning system in its stores, which allowed for better inventory control.

In 2001, the company opened two additional distribution centers, in Savannah, Georgia, and Briar Creek, Pennsylvania.

2002

Dollar Tree broke the $2 billion mark in 2002 as sales and net income continued their upward trend.

2003

2003 – Dollar Tree acquired Greenbacks, Inc., in Salt Lake City, Utah, and opened a new Distribution Center in Marietta, Oklahoma.

Perhaps its most important purchase however, was that of Greenbacks Inc. in 2003.

Two additional warehouses were opened in Georgia and Pennsylvania the following year, while Oklahoma became home to yet another facility in 2003.

2003: Greenbacks Inc. is acquired.

In 2003, Dollar Tree acquired Salt Lake City, Utah-based Greenbacks, Inc., and opened a new distribution center in Marietta, Oklahoma.

2004

Bob Sasser took over as CEO in January 2004 while Brock continued on as chairman.

2004 – Bob Sasser was promoted to President and Chief Executive Officer.

In 2004, Dollar Tree opened its first store in North Dakota which marked its operation of stores in all 48 contiguous states.

2006

2006 – Dollar Tree celebrated its 20th year of retailing at a $1.00 price point and opened its 3,000th store.

After 13 successful years, Dollar Tree decided that 2006 was the year its logo deserved a makeover.

In 2006, Dollar Tree celebrated its 20th year of retailing at a $1.00 price point, opened its 3,000th store, and acquired 138 DEAL$ stores, previously owned by SUPERVALU INC.

2007

2007 – Dollar Tree expanded the Briar Creek Distribution Center.

In 2007, Dollar Tree expanded its Briar Creek Distribution Center, crossed the $4 billion sales threshold, and had a market capitalization of $3.29 billion.

2008

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.

2008 – 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.

In 2008, Dollar Tree earned a place in the Fortune 500.

2009

By the close of the 2009 fiscal year, Dollar Tree had moved up more than 100 spots on the Fortune 500 list.

2009 – By the close of the 2009 fiscal year, Dollar Tree had moved up more than 100 spots on the Fortune 500 list.

By the close of 2009, the company opened a store in Washington, D.C., and purchased a new distribution center in San Bernardino, California.

In 2009, Dollar Tree redesigned its website with a new e-commerce platform.

2010

2010 – Dollar Tree opened its 4,000th store and acquired 86 Canadian Dollar Giant Stores based in Vancouver, British Columbia.

In 2010, the corporation opened its 4,000th chain store and acquired 86 Canadian Dollar Giant stores which are based in Vancouver, British Columbia.

2011

2011 – Dollar Tree continued its record of strong, consistent growth achieving sales of $6.63 billion, opening 278 new stores, and completing a 400,000 square-foot expansion of its Distribution Center in Savannah, Georgia.

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.

2012

2012 – Dollar Tree’s steady growth continued as the Company opened 345 new stores and exceeded $7 billion in sales.

In 2012, Dollar Tree opened another 345 new stores and exceeded $7 billion in sales, with an end-of-the-year market cap at $9.13 billion.

2014

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.

2015

In January 2015, Dollar Tree announced plans to divest 300 stores in order to appease US regulators scrutinizing its proposed takeover of Family Dollar stores.

In June 2015, the firm agreed to sell 330 stores to private equity company Sycamore Partners as part of the approval process for its $8.5 billion takeover of Family Dollar.

2018

The company was ranked 134th on the 2018 Fortune 500 list of the United States corporations by revenue.

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.

Founded
1986
Company Founded
Headquarters
Chesapeake, VA
Company Headquarter

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