Dollar Tree to Open 590 Stores, Renovate 800 More

Dollar Tree (Chesapeake, VA) says it will open 590 new stores in fiscal 2022 and renovate an additional 800 locations.

The 590 new locations will consist of 190 Dollar Tree stores and 400 Family Dollar stores. About 350 of the new Family Dollars will be in a “combo store” format.

The combined Dollar Tree and Family Dollar footprint is currently 15,685 stores.

Additionally, the company plans to expand its $3 and $5 assortments to more than 1500 Dollar Trees.

The announced plans came as the discount retailer reported results for its fiscal 2021 ending Jan. 29. Net sales increased 3.1% to $26.3 billion from the prior year.

Dollar Tree also reconstituted its board of directors, which is now chaired by Rick Dreyling and includes a new finance committee.