|Legal Name:||Dollar Tree|
|Headquarters Regions:||Chesapeake, Virginia, United States|
|Founders:||Macon F. Brock, Jr.|
|Number of Employees:||200,000+|
|Area served:||United States of America|
|Products of Company:||Discount store company|
|Net Worth in 2022:||$25 billion|
Dollar Tree is a popular American chain of discount variety stores. What makes Dollar Tree a lot different from its competitors is sells items for $1 or less. It is a public company whose headquarters are located in Chesapeake, Virginia, U.S. Mike Witynski is currently serving as the CEO of the company and it offers various kinds of products including food, health and beauty care products, housewares, books, and toys. The company operates one-dollar stores under Dollar Tree and Dollar Bills while it operates a multi-price-point variety chain under the Family Dollar.
Well, how well do you know about Dollar Tree? If not much, we have compiled all you need to know about Dollar Tree’s net worth in 2022, wiki and complete details. Well, if you’re all set, here is what we know about Dollar Tree to date.
Dollar Tree was founded in 1986 in the city of Norfolk in Virginia, U.S. It was founded by Doug Perry, Macon Brock, and Ray Compton as Only $1.00. It had 5 stores at the time, out of which 3 of them were three in Virginia, while the others were located in Georgia and Tennessee. The following years witnessed the rise in its popularity and 1993, the name of Only $1.00 was changed to Dollar Tree.
Dollar Tree became a public company on the 6th of March 1995. The company’s market capitalization was then evaluated at $225 million. Over the next 4 years, it acquired Dollar Bill$, Inc., 98-Cent Clearance Centers, and Only $One stores based in New York state while opening its first distribution center, in Virginia. In 2000, it acquired the Philadelphia-based company, Dollar Express. By 2003, the company had opened three more distribution centers and acquired Greenbacks, Inc.
In 2006, the company celebrated its 20th year of retailing and opened its 3,000th store while also acquiring 138 DEAL$ stores. The following year, in 2007, the company crossed 4 Billion in sales which is a landmark achievement, to say the least. A couple of years later, in 2009, the company redesigned its website with a new e-commerce platform. Today one can not only access products from its website but can also check the customer reviews before buying the product among various other facilities.
In 2010, the company opened its 4000th chain store and also acquired 86 Canadian Dollar Giant stores. The following year, in 2011, the company had sales of $6.63 Billion and also opened 278 new stores. In 2014, Dollar Tree purchased the variety store chain, Family Dollar for $8.5 Billion.
In 2019, the company decided of closing up to 390 stores and renovating 1000 stores. By the end of the following year, the company opened 50 more stores, and these stores were mainly in towns that have a population of a few thousand people. In 2021, they announced they had also opened Family Dollar & Dollar Tree store combination stores.
Awards & Achievements
While Dollar Tree hasn’t won any awards as of yet, it has been successful in several different respects. In 2017, the company’s revenue was $22.246 Billion, net income $1.714 Billion, and total assets evaluated at $16.333 Billion. As of February 2020, the company has its stores in 15288 locations and there are more than 193K employees. These stats just show how much the people love the company. They provide quality products to their customers at a lesser price and they have certainly made a massive impact in the industry.
Net Worth & Earnings of Dollar Tree in 2022
As of 2022, Dollar Tree’s net worth is estimated at $25 Billion. The company is one of the most successful discount variety stores chains in the U.S. and therefore it’s no surprise that the company has such a massive net worth.
Dollar Tree has been a great company that looks to provide high-quality products to their customers at an amazing price and their success shows that. With that being said, we wish the company the best of luck for its future and hope we continue to provide value-for-money products to the people like they always have.