1986 to Present
Norfolk - Chesapeake, U.S.Dollar Tree, formerly known as Only $1.00, is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 15,115 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of twenty-four distribution centers. Additionally, the company operates stores under the name of Dollar Bills, as well as a multi-price-point variety chain under the Family Dollar banner.
In 2010, the corporation opened its 4,000th chain store and acquired 86 Canadian Dollar Giant stores which are based in Vancouver, British Columbia. The stores are operated in British Columbia, Alberta, Saskatchewan, and Ontario. These are the first retail locations outside of the United States operated by Dollar Tree.
On March 3, 2021, it was announced that Dollar Tree had quietly introduced a combination Family Dollar/Dollar Tree store concept with the first one opening in late 2019. Dollar Tree has opened and operated nearly 50 locations by the end of 2020, primarily in small towns with populations of just a few thousand people.
On September 28, 2021, CEO Michael Wytinski, citing increased shipping and labor costs squeezing profit margins, announced that some prices will be rising above $1, possibly to as much as $1.50.
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. The expansion of dollar stores was continued alongside K&K Toys stores, mostly in enclosed malls.