Dozens of shuttered 99 Cents Only stores to reopen under a familiar name: Dollar Tree (2024)

FAQs

Which 99 cent stores did Dollar Tree buy? ›

In addition to the Downey location, Dollar Tree also acquired the leases of stores in Bellflower, Montebello, Whittier and two Norwalk stores.

Dollar Tree looks forward to welcoming customers from 99 Cents Only Stores as early as fall 2024. About Dollar Tree, Inc.

Dollar Tree acquires rights to 99 Cents Only stores; SoCal locations could soon reopen. Dollar Tree says it acquired the rights for 170 locations across Arizona, California, Nevada and Texas. Most of them are in Southern California.

The two chains are very different, and the announcement is a sign of consolidation in the retail industry. 99 Cents Only was a regional chain and sold groceries. Dollar Tree, a national company with mostly suburban locations, primarily offers discretionary merchandise like party supplies and home goods.

One key approach is bulk buying from suppliers. By purchasing millions of units to distribute across their numerous locations, they can acquire products at a lower cost, similar to the savings Costco offers its customers through bulk purchases. Another method dollar stores use is sourcing liquidated items.

1990s. Early in the 1990s, K&K Toys was sold to KB Toys, a Melville Corp., and all assets were used to expand dollar stores. We underwent a name change to Dollar Tree Stores in 1994.

The retailer also bought up the rights to 170 store leases, with plans to rebrand and reopen them “as early as fall 2024.” This audio is auto-generated. Please let us know if you have feedback.

Dozens of closed 99 Cents Only locations across Arizona, California, Nevada and Texas could reopen as Dollar Tree stores. The bargain retailer confirmed Wednesday that it acquired the rights for 170 of the 99 Cents Only stores across the four states.

A New Chapter

We've brought Family Dollar and Dollar Tree together under one roof, starting in small, rural towns across the country that had limited retail options. Our customers love the concept and we are expanding past just small towns.

Dollar General has a diverse ownership structure, with several major institutional investors holding significant stakes in the company. The top shareholders as of September 2023 are Vanguard Group, Inc., BlackRock, Inc., Capital International Investors, Capital World Investors, State Street Corporation, Price (T.

Will someone buy 99 cent store? ›

Some closed 99 Cents Only Stores locations will reopen as Dollar Tree. Dollar Tree announced that it is buying the rights to 170 99 Cents Only Stores in Arizona, California, Nevada and Texas. The stores are expected to reopen as early as fall.

Dollar Tree is owned by Dollar Tree, Inc. Rick Dreiling has served as the CEO of the company since January 2023 and has held the role of Executive Chairman on the Board of Directors since March 2022.

In 1993, the name Only $1.00 was changed to Dollar Tree Stores to address what could be a multi-price-point strategy in the future, and part equity interest was sold to SKM partners, a private equity firm.

Some of the products may not last for long, and you might have to replace them quickly. On the other hand, Dollar General sells products that cost more, but you can expect the quality to be higher. So, if you are looking for better quality products that might last longer, Dollar General is the way to go.

The new maximum price of items sold at Dollar Tree stores will be $7. “This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7,” said CEO Rick Dreiling.

Dollar Tree acquired Family Dollar for more than $8bn almost a decade ago after a bidding war with rival Dollar General, but it has had difficulty absorbing the chain.

--(BUSINESS WIRE)-- Dollar General (NYSE:DG) announced today it has completed the purchase of 41 former Walmart Express locations across 11 states.

Dollar Tree Inc. announced Wednesday that it will be taking over 170 locations previously occupied by 99 Cents Only stores across four states, including California.

Dollar Tree, which focuses more on middle-income shoppers in suburbs, bought Family Dollar in 2015 for $8.5 billion. The combined company hoped that by joining forces, it could grow its customer base, reduce costs and fend off bigger retailers like Dollar General, which is mainly in rural areas.