Dollar Tree began in 1953 when K.R. Perry opened a Ben Franklin store in Norfolk, Virginia. The store was later renamed to K&K 5&10 and then to K&K Toys.
In 1986, the company opened a new dollar store concept called Only $1.00 in Dalton, Georgia. The concept was so successful that 5 more locations were opened that same year.
In 1991, K&K Toys division was sold to KB Toys so the company could focus on Only $1.00.
In 1993, the company name was changed to Dollar Tree Stores, Inc.
In 1995, the company went public.
In 1996, the company acquires 136 Dollar Bills stores. In 2000, Dollar Express is acquired.
In 2006, the 3000th Dollar Tree location opens.
In 2010, the 4000th Dollar Tree opens.
In 2012, the company began accepting manufacturer’s coupons.
In late 2018, Dollar Tree acquired Family Dollar stores for $8.5 billion. Many Family Dollar stores are being rebranded.
In April of 2019, Dollar Tree announced that it would close more than 390 Family Dollar locations, but will expand or renovate 400 other locations.
In March of 2020, many retail stores had to close due to the coronavirus outbreak, costing them millions. Dollar Tree was one exception, with people buying everything from toilet paper to alcohol.
Headquarters for Dollar Tree are located in Chesapeake, Virginia.
