Dollar Tree is a discount retail store with approximately 15,115 locations through the US and Canada. The first iteration of what came to be known as Dollar Tree was opened in 1953 by K.R. Perry. Over the coming decades, the businesses changed names, acquired and opened other types of stores and continued to expand.
In the early 1990s, stores were known as “Only $1.00”. By 1993 the company changed the name to Dollar Tree to better reflect a business strategy that focused on affordable, low-cost price points. Today, the Dollar Tree is a highly recognizable brand that is headquartered in Chesapeake, Virginia, and boasts 25 distribution centers.
Dollar Tree is a sizable employer who seeks individuals who are committed to customer services. They employ experts across a variety of divisions who specialize in everything from finance and human resources to marketing and supply chain management.
Number of Employees
Dollar Tree employs over 193,000 people in the contiguous US and Canada.
In 1953, the first Ben Franklin store was opened in Norfolk, Virginia. Over the years, the store went by several different names before officially becoming Dollar Tree in 1993.
Company Mission Statement
The company’s mission statement reads as follows:
“Dollar Tree, Inc. is a customer-oriented, value-driven variety store operating at a one-dollar price point. We will operate profitably, empower our associates to share in its opportunities, rewards and successes; and deal with others in an honest and considerate way. The company’s mission will be consistent with measured and profitable growth.”
When the company was founded, the goal was to create a retail store with low overhead that could offer high-quality items for an unbeatable value. He used his interest in merchandising to create a store that focuses on the customer experience.
The company still pursues these values and works to provide convenient access to affordable, brand name products that people use during their daily lives. From apparel and household cleaners to toys and health and beauty supplies, customers can visit Dollar Tree to take care of all their shopping needs.
Dollar Tree is the second largest dollar store in the United States (Dollar General is the largest). In 2015, Dollar Tree bought their competitor, Family Dollar, and became an even more dominant retailer. The company is listed on the NASDAQ and is considered a Fortune 500 company. Overall, the industry earns billions of dollars per year and just surpassed Macy’s in retail sales, making dollar stores an increasingly popular and lucrative business.