Business

Dollar Tree is closing 75 stores nationwide

Dollar Tree is closing about 75 stores across the United States. ©Image Credit: Wiki Commons

Dollar Tree is closing stores across the United States. But before you start mourning your favorite aisle of suspiciously cheap snacks, know that the retailer is also opening hundreds of new locations.

The discount retailer says it expects to close about 75 stores nationwide during fiscal 2026, according to its first-quarter earnings report. While the company hasn't revealed which locations are on the chopping block, here is everything we know so far.

More stores are opening than closing

Dollar Tree opened 113 stores during the first quarter alone, bringing its total footprint to 9,382 locations across the U.S. and Canada as of May 2. Even after the planned closures, the retailer expects to finish the year with more stores than it started with.

So, if your local Dollar Tree disappears, there is a decent chance another one is popping up somewhere else.

Dollar Tree is not really just a dollar anymore

There is another major change happening with Dollar Tree. The retailer has been expanding its multi-price format so that customers can now find products at different price points instead of everything being priced under the $1-ish mental model we have all come to know.

During the first quarter, the company converted or added the multi-price format to about 630 stores. Around 5,900 locations now offer products at various prices.

The idea behind the new stores

Dollar Tree is not simply opening stores wherever it can find cheap real estate. The company is increasingly targeting more affluent neighborhoods, hoping to attract shoppers with higher incomes who may spend more per visit.

And apparently, that strategy is working well enough to keep expanding. A Bloomberg News analysis found that 49% of Dollar Tree stores opened during the past six years were in wealthier parts of metropolitan areas, compared with 41% during the previous six-year period.

The discount store glow-up

CEO Mike Creedon says the company is focused on improving stores, expanding its selection and, strengthening its relationship with customers. Discount retailers are having a moment because shoppers are still looking for ways to stretch their money. But Dollar Tree is apparently seeking out regular shoppers who happen to like bargains as opposed to bargain-bin shoppers.

Source: Fox Business

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