Dollar Tree announced Wednesday it acquired leases for 170 of 99 Cents Only’s stores out of bankruptcy in Arizona, California, Nevada and Texas.
Dollar Tree was the last dollar store chain to sell everything for $1 before raising prices in 2021 to $1.25 and above.
Family Dollar has underperformed Dollar Tree and other discount chains in recent years, and it’s closing 975 stores.
One challenge for Dollar Tree could be the size of 99 Cents Only stores.
99 Cents Only stores are on average approximately 20,000 square feet, more than double the size of a typical dollar store chain.
Persons:
” Michael Montani
Organizations:
New, New York CNN, “ Management, IRI
Locations:
New York, Arizona , California , Nevada, Texas, Virginia, West Coast