Dollar Tree announced it will open more stores after acquire 170 stores by 99 Cents Only on May 29. This means shoppers will be able to enjoy more Dollar Tree products at even cheaper prices.
Michael Creedon Jr., Dollar Tree Chief Operating Officer, said, “As we continue to execute our accelerated growth strategy for the Dollar Tree brand, this was an attractive opportunity to secure leases in priority markets where we see strong potential for profitable growth.”
“The portfolio complements our existing footprint and will provide us with access to high-quality real estate assets in premium shopping centers, allowing us to rapidly expand the Dollar Tree brand in the western United States, reaching more customers and communities,” he added.
According to People.com, the merger between Dollar Tree and 99 Cents Only was made after the announcement of the closure of all 371 99 Cents Only stores due to changing economic conditions.
The 99 Cents Only stores where Dollar Tree acquired leases will reopen in Texas, Arizona, Nevada and California, according to the AP.
Dollar Tree is expected to reopen 99 Cents Only stores in fall 2024 and sell its own products in the newly reopened stores.
Although it has not yet been officially announced what products Dollar Tree will sell in these new stores, shoppers are expected to find the inexpensive household products and staple foods that characterized 99 Cents Only stores, as well as the home decor available at most other Dollar Tree stores.
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