Dollar Tree
Dollar Tree Stores, Inc. is a
U.S.-based chain of retail stores headquartered in
Chesapeake, Virginia. Every item sold in the stores is offered for either $1.00 or less, thus making it a true
dollar store. As of July 29, 2006, Dollar Tree operates 3,156 stores in 48 states.
Dollar Tree traces its history back to
1953 when company founder K.R. Perry opened a
Ben Franklin store. Along with Doug Perry,
Macon Brock and Ray Compton he eventually turned the store into K&K 5&10, a
five and dime. A number of additional K&K stores were opened. By the
1970s and
1980s, the chain came to concentrate on toys.
In
1986, the company opened its first Dollar Tree store in
Dalton, Georgia. By the early
1990s, the company decided to focus exclusively on the Dollar Tree line. The chain sold the K&K stores to
KB Toys. The company came to be known as Dollar Tree Stores, and by
1995 was traded on NASDAQ. Since that time the company has focused on expanding its presence nationwide.
In
2004, Dollar Tree bought
Greenbacks All-A-Dollar stores.
In
2006, Dollar Tree bought
Deal$ stores (previously owned by
Save-A-Lot).
Dollar Tree competes in the
dollar store and low-end retail markets with the national chains
Family Dollar and
Dollar General together with regional chains such as
Fred's in the southeast and many independent dollar stores nationwide.
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Dollar Tree website
