Dollar Tree pumped up its namesake portfolio earlier this year when it completed the $9.2 billion takeover of rival retailer Family Dollar, converting many of those stores into Dollar Trees. Now the discount chain will be bestowing its name on more than 200 smaller Deals (or Deal$) branded stores.
Virginia-based Dollar Tree announced Tuesday that it will convert 217 Deals stores – which sells products for more than $1 – into Dollar Trees and five others into Family Dollar stores by mid-2016.
The company bought 138 Deals locations back in 2006 and grew the chain to include 222 stores in 19 states, the Charlotte Observer reports.
Bob Sasser, Dollar Tree CEO, said in a statement that the company believes that converting the Deals stores will allow the company to operate more efficiently.
“For nearly a decade, our committed team of Deals associates has done a great job of consistently providing customers with terrific values,” he said. “We are confident that we can better serve our Deals customers and markets through one of our primary banners.”
As for the company’s recent acquisition of more than 8,200 Family Dollar stores, Sasser says work has been moving quickly. The retailer is on track to convert at least 150 of the new Family Dollar stores into Dollar Trees by the end of October.
by Ashlee Kieler via Consumerist
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