Dollar Tree W-2 Tax Information
Jacqualine Henington
Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 (sometimes referred to as Fortune 200) company and operates 15,115 stores throughout the 48 contiguous U.S. states and Canada.[1] Its stores are supported by a nationwide logistics network of 24 distribution centers. Additionally, the company operates stores under the name of Dollar Bills, as well as a multi-price-point variety chain under the Family Dollar banner.
Dollar Tree competes in the dollar store and low-end retail markets. Each Dollar Tree stocks a variety of products, including national, regional, and private-label brands. Departments found in a Dollar Tree store include health and beauty, food and snacks, party, seasonal dcor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods. In August 2012, the company began accepting manufacturer coupons at all of its store locations.[5]
Dollar Tree, and dollar stores in general, have been alleged to create food deserts: areas with poor access to healthy and affordable food. Dollar Tree disputes this claim, and claims that it creates food options in areas that would otherwise be deserts.
In 1986, Doug Perry, Macon Brock, and Ray Compton started another chain store called Only $1.00 with five stores, one in Georgia, one in Tennessee, and three in Virginia. The expansion of dollar stores was continued alongside K&K Toys stores, mostly in enclosed malls.[6]
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.[6]
In 2000, Dollar Tree acquired Dollar Express, a Philadelphia-based company, and also built a new distribution center in Stockton, California.[11][12] In 2001, the company opened two additional distribution centers, in Savannah, Georgia, and Briar Creek, Pennsylvania.[13][14] In 2003, Dollar Tree acquired Salt Lake City, Utah-based Greenbacks, Inc., and opened a new distribution center in Marietta, Oklahoma.[15][16]
In 2004, Dollar Tree opened its first store in North Dakota which marked its operation of stores in all 48 contiguous states. The company also opened new distribution centers in Joliet, Illinois, and Ridgefield, Washington.[17][18]
In 2007, Dollar Tree expanded its Briar Creek Distribution Center and crossed the $4 billion sales threshold.[20] In 2008, Dollar Tree earned a place in the Fortune 500. By the close of 2009, the company opened a store in Washington, D.C., and purchased a new distribution center in San Bernardino, California.[21]
In 2009, Dollar Tree redesigned its website with a new e-commerce platform. DollarTree.com sells Dollar Tree merchandise in larger quantities to individuals, small businesses, and organizations. The company also advertises in-store events, specials, seasonal promotions, and featured products through the site, and users can locate a retail store, research information about Dollar Tree, and view product recalls. Dollar Tree also added customer ratings and reviews, and customer stories to the site.
In 2010, the corporation opened its 4,000th chain store and acquired 86 Canadian Dollar Giant stores which are based in Vancouver, British Columbia, Canada. The stores are operated in British Columbia, Alberta, Saskatchewan and Ontario. These are the first retail locations outside of the United States operated by Dollar Tree.
On July 28, 2014, Dollar Tree announced that it was offering $9.2 billion for the purchase of competitor chain store Family Dollar. On August 18, 2014, Dollar General lodged a competing bid of $9.7 billion for Family Dollar.[22] The bid was rejected on August 20, 2014, by the Family Dollar board, which said it would proceed with the deal with Dollar Tree.[23]
On March 3, 2021, it was announced that Dollar Tree had quietly introduced a combination Family Dollar/Dollar Tree store concept, with the first one opening in early 2021.[28] Dollar Tree has opened and operated nearly 50 locations by the end of 2020, primarily in small towns with populations of just a few thousand people.[29]
On November 23, 2021, it was announced that Dollar Tree plans to raise its prices from a dollar for typical items to $1.25 in response to inflation and pressure from investors to raise prices. Some of the items sold at Dollar Tree will not have their prices increased. The retailer will introduce the new price point in more than 2,000 stores by December 2021 and complete the roll-out across most of its 8,000 stores by the first quarter of 2022.[31]
Dollar Tree is classified as an extreme discount store.[33] It claims to be able to achieve this because their buyers "work extremely hard to find the best bargains out there", and it has "great control over the tremendous buying power at the dollar price-point".[34] Its prices are primarily designed to attract financially disadvantaged customers, but it has also become popular within immigrant communities.[33]
On July 28, 2014, Dollar Tree announced that a deal had been reached and approved by both parties to purchase Family Dollar for $8.5 billion plus acquisition of the $1 billion in debt currently held by Family Dollar.[35][36][37] The deal came in the month following activist investor and major shareholder[38] Carl Icahn's demand that Family Dollar be promptly put up for sale.[39] After their reported deal had been struck, Dollar General entered the bidding, surpassing Dollar Tree's offer, with a $9.7 billion bid on August 18, 2014.[40] On August 20, 2014, Family Dollar rejected the Dollar General bid, saying it was not a matter of price, but concerns over antitrust issues that had convinced the company and its advisers that the deal could not be concluded on the terms proposed. The Family Dollar board had been analyzing potential antitrust issues that could arise from doing a deal with Dollar General, since the start of the year a statement from CEO Howard Levine outlined.[23]
Dollar Tree, and dollar stores in general, have been alleged by a number of studies, individuals, and organizations to proliferate food deserts: areas with limited access to healthy and affordable food.[41][42][43][44] Dollar Tree has disputed this claim; it claimed that in a number of cases it created food options in food deserts.[41] Dollar stores are alleged to outcompete local grocery stores, and end up being one of the few options available for purchasing food in some communities.[45][43] In 2023, Dollar Tree reportedly stopped selling eggs when the price of eggs increased.[43] In line with these allegations, a number of states have passed restrictions on where new dollar stores can be opened.[45]
On October 11, 2010, Dollar Tree announced its acquisition of Dollar Giant, incorporated in 2001 in Vancouver, Canada, for $52 million.[46][47] At the time of the acquisition, Dollar Giant had about 85 retail outlets in the provinces of British Columbia, Alberta, Saskatchewan and Ontario.[48] Approximately 30 of its retail locations are in British Columbia, making it the second largest dollar store chain in that province. It was Canada's fourth largest operator of dollar stores. Dollar Tree has since rebranded all of its Dollar Giant stores to Dollar Tree; these were the first retail locations outside of the United States operated by Dollar Tree.
As of 2020[update], the company operates 227 stores across Canada, concentrated in Western Canada and Ontario. All Dollar Tree stores in Canada sell items for C$1.50 or mentioned otherwise which is usually less than C$2.[49]
The Consumer Product Safety Commission lists several recalls for products sold at Dollar Tree stores. The recalled products include salsa jars with broken glass inside them, hot-melt mini glue guns (recalled in January 2008) which could short circuit and cause burns,[51] and candle sets (recalled in February 2004) that could produce excessive flame.[52]
Please be aware of job scams impacting large employers. Our human resources team recently received reports of scammers posing as Dollar Tree associates to convince candidates to provide resumes and other personal information. The scammers are using fake Dollar Tree websites and domain names, fake Dollar Tree emails, and fake LinkedIn accounts. If you are contacted by a Dollar Tree or Family Dollar associate or recruiter about employment opportunities, you can verify their identity by emailing Integrit...@dollartree.com. You can also verify that their email address ends in dollartree.com or familydollar.com. Additionally, you can confirm the accuracy of open positions with our company by visiting our job search page. Our applications are hosted on the brassring.com domain.
Have you ever heard of a tree that's worth millions of dollars? Yes, you read that right! Ebony wood, a rare and valuable wood, is considered one of the most expensive woods in the world, with a price tag that can make your head spin.
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