10 Surprising Facts About Dollar Tree's Takeover of 99 Cents Only Stores
Dollar Tree acquired leases for 170 out of the 370 total 99 Cents Only stores, representing nearly half of the bankrupt chain's locations.
99 Cents Only filed for bankruptcy in April 2024, just months before Dollar Tree's announcement, indicating a swift takeover.
The acquired stores are located in prime areas across Arizona, California, Nevada, and Texas, crucial for Dollar Tree’s expansion.
99 Cents Only stores average about 20,000 square feet, more than double the typical Dollar Tree store size, posing logistical challenges.
While 99 Cents Only primarily sold groceries, Dollar Tree focuses on discretionary items like party supplies and home goods.
Dollar Tree was the last dollar store chain to raise prices above $1, moving to $1.25 in 2021, a significant shift in its pricing strategy.
Dollar Tree also owns Family Dollar, which has struggled in recent years, leading to the closure of 975 Family Dollar stores.
The transition from 99 Cents Only to Dollar Tree may impact jobs, with potential layoffs or new hiring to match Dollar Tree’s operational model.
Rebranding 170 stores under the Dollar Tree name is expected to be completed by fall, a rapid turnaround for such a large acquisition.
Rebranding 170 stores under the Dollar Tree name is expected to be completed by fall, a rapid turnaround for such a large acquisition.