Dollar Tree Announces New Store Concept
Last week, Chesapeake-based company Dollar Tree announced that it plans to open 600 stores and renovate 1,250 Family Dollar locations. Of the 600 stores, 200 of the new Family Dollar stores will be comprised of a new combination store and “H2” stores. The H2 stores feature improved merchandise offerings.
The combination store format was first piloted in 2019 and combines the Dollar Tree and Family Dollar brands all in one setting. These stores will open in small towns and rural communities with populations of 3,000-4,000 people. These communities often have limited retail options, causing shoppers to travel long distances to meet all of their shopping needs.
“We are extremely pleased with our customers’ response to the new combination store concept,” stated Michael Witynski, president and CEO of Dollar Tree Stores. “As I have said in the past, we will continue to refine our strategic store formats so that we are able to better serve customers, while improving store productivity, margins and returns. We want formats that leverage the best of the Dollar Tree and Family Dollar brands to serve customers in all types of geographic markets. We believe we can continue to change, evolve and improve.”
Nearly 50 stores are already in operation now, with plans to open more this year. The company has identified over 3,000 potential markets for this concept.