In 1999, Dollar Tree acquired Only $One stores based in New York. In 1998, Dollar Tree acquired 98-Cent Clearance Centers in California. In 1997, the company opened its first distribution center and its new store support center, both located in Chesapeake, Virginia. In 1996, Dollar Tree acquired Dollar Bill$, Inc., a Chicago-based chain of 136 stores. went public on the NASDAQ exchange at $15 a share, with a market cap then calculated at $225 million. īrock and the co-founders of Dollar Tree got the idea for the company from another retailer known as Everything's A Dollar, which went bankrupt in the 1990s. 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. In 1991, the corporation made a decision to focus exclusively on the expansion of dollar stores after selling K&K stores to KB Toys, owned by Melville Corporation. In a May 1989 advertisement in the Sun-News, the fledgling chain, apparently already planning 100 stores for the eastern United States, bills the dollar-pricing model as the “hottest new shopping concept in America”. On April 27, 1989, the first “Dollar Tree”-branded store opened at the Jessamine Mall in Sumter, South Carolina. The expansion of dollar stores was continued alongside K&K Toys stores, mostly in enclosed malls. 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. This mall concept grew to over 130 stores on the East Coast. Perry, Doug Perry, and Macon Brock started K&K Toys in Norfolk, Virginia. Perry opened a Ben Franklin variety store in Norfolk, Virginia, which later became known as K&K 5&10. Most of their stores are located in the South and Northeast but they can be found scattered across all regions of the United States. In August 2012, the company began accepting manufacturer coupons at all of its store locations. 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. Departments found in a Dollar Tree store include health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Each Dollar Tree stocks a variety of products, including national, regional, and private-label brands. 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.ĭollar Tree competes in the dollar store and low-end retail markets. Its stores are supported by a nationwide logistics network of 24 distribution centers. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 15,115 stores throughout the 48 contiguous U.S. is an American multi-price-point chain of discount variety stores. This Dollar Tree binder tested positive for traces of phthalates, a group of chemicals used to soften plastics.Dollar Tree stores in the U.S., as of December 2020 ĭollar Tree, Inc. The Board Dudes, another brand of dry erase markers that were also purchased on Amazon, tested positive for traces of BTEX chemicals.Īmazon and Mattel, which owns The Board Dudes' parent company, have not responded to CNN's request for comment. The Board Dudes six magnetic dry erase markers (ACMI)."ĬNN has not yet heard back from Amazon for comment. Additionally, all EXPO Dry Erase Markers have been examined by an independent, certified toxicologist from Duke University Medical Center and are certified as safe, non-toxic by The Art & Creative Materials Institute, Inc. Public Interest Research Group and can confirm that our products meet all applicable regulatory and safety standards. In a statement to CNN, EXPO said in part, "We are aware of the report by U.S. It is unclear if unscented versions of the markers also contain traces of BTEX. One of the four chemicals, benzene, is a carcinogen. The markers, purchased on Amazon, were found to have traces of BTEX, which refers to four chemicals that have been linked to liver, kidney and immune system damage.
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