With more than 15,200 stores in operation throughout the U.S. and Canada, the Dollar Tree company has just announced plans to open up another 350 outlets between now and the end of this year.
The Chesapeake, Virginia-based company also wants to build and open another two hundred Family Dollar locations in that same time period.
Also included in the company’s plans is the goal of renovating up 1,000 existing Family Dollar properties.
Plans for the new Dollar Trees and Family Dollars come at the same time that the company has announced its intention to close 390 underperforming Family Dollar stores in various regions of the country.
The Dollar Tree and Family Dollar chains joined forces four years ago when Dollar Tree bought the Family Dollar stores for $8.5 billion.
Analysts say that the despite the promising acquisition, both the Dollar Tree and Family Dollar have been hit with stronger-than-expected competition from other national discount chains such as 99 Cents Only and Dollar General.
The Trump Administration’s upped retail tariffs have also proven a challenge for both Dollar Tree and Family Dollar due to the stores importing nearly half of their goods from China.
The average Dollar Tree stores generally range in size between 7,500 and 9,500 square feet. The footprint for the typical Family Dollar store has traditionally been smaller at anywhere between 6,000 and 8,000 square feet.
Where the new Dollar Tree and Family Dollar stores will be built is expected to be announced later this spring.
By Garry Boulard
