Dollar Tree plans to close dozens of stores nationwide this year as it continues to expand its overall presence.
The Chesapeake, Virginia-based company said in its first-quarter earnings report, released May 28, that it planned to close about 75 stores in fiscal 2026. It did not specify which locations would close.
At the same time, Dollar Tree plans to open about 400 new stores this year, meaning the total number of stores is expected to increase.
DOLLAR TREE MAKES A HIGH-END GAME TO FEED SALES
Customers shop at a Dollar Tree store on August 2, 2022 in Chicago, Illinois. Dollar Tree expects its total store count to increase as it opens approximately 400 new locations in fiscal 2026. (Scott Olson/Getty Images)
The retailer opened 113 stores during the first quarter, bringing its total footprint to 9,382 locations worldwide. UNITED STATES and Canada starting May 2.
Dollar Tree also converted or added approximately 630 stores to its multi-price format during the quarter. Around 5,900 sites now sell products at various price points.
CEO Mike Creedon said the company is focused on improving its stores, expanding its product selection and strengthening its relationships. with customers.
CONSUMERS SHOULD NOT EXPECT PRICES TO DROP SOON, ECONOMIST WARNS
A woman purchases items at a Dollar Tree store on April 28, 2025, in Alhambra, California. Dollar Tree also converted or added approximately 630 locations to its multi-price format during the first quarter of 2026. (FREDERIC J. BROWN/AFP via Getty Images)
“As we celebrate our 40th anniversary in 2026, we are encouraged by the progress we are seeing across the company and remain focused on achieving thoughtful investments in our stores, our assortment and the customer experience – building Dollar Tree to last for decades,” Creedon said in a statement.
The growth comes as discount retailer is opening more stores in wealthier areas in an effort to attract higher-income shoppers who tend to spend more per visit.
AMERICANS ARE BECOMING MORE PESSIMISTIC ABOUT FINANCES AS FEARS ABOUT RENT, FOOD COSTS INCREASE, FED SAYS
Dollar Tree carts are seen at a store in Brooklyn on March 26, 2025, in New York. CEO Mike Creedon said the retailer remains focused on improving store conditions, expanding its merchandise assortment and strengthening its relationships with customers. (Spencer Platt/Getty Images)
Actions in this article: A February analysis by Bloomberg News found that 49% of new Dollar Tree stores opened in the past six years were located in wealthier parts of the nation’s metropolitan areas, compared to just 41% in the previous six years.
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Dollar Tree could not immediately be reached by FOX Business for comment.
Eric Revell of FOX Business contributed to this report.
