Dollar Tree brings these major changes in 2023, the leaders announced
Buyers will see more dollar trees stores and changes to those to which they are already buying.
Inflation continues to raise its ugly head, more and more Americans turn to stores at a dollar for Keep them in the budget - And chains like Dollar Tree certainly harvest the advantages. For the last quarter ending on January 28, Dollar Tree has exceeded the expectations of Wall Street , according Wall Street's journal , thank you largely to an influx of high income buyers who also seek to keep money. Illustrating this, in a press release on March 1, Dollar Tree announced that Sales with comparable stores increased by 7.4% for the dollar trees and 5.8% for its Family Dollar subsidiary. By passing by 2023, the retailer does not slow down - and he is now making considerable changes to achieve his long -term objectives. Read the rest to discover what Dollar Tree changes and why.
Read this then: Dollar Tree accused of having "put everyone" .
It presents more than $ 3 and $ 5 of items.
During a March 1st profit call ,, Rick Dreiling , Dollar Tree Chairman and Chief Executive Officer, confirmed that buyers will see more items at $ 3 and $ 5 in prices in 2023. AE0FCC31AE342FD3A1346EBB1F342FCB
"In 2022, we added $ 3 and $ 5 plus goods in more than 1,800 tree stores," said Dreiling. "We plan to add this product at multiple prices in 1,800 other stores or more in 2023."
According to Insider, these more expensive products Be part of the Dollar Tree Plus line, which is currently available in a third of Dollar Tree stores. The Dollar Tree website, there is different categories Dollar Tree Plus items, including seasonal items, party supplies, interior decoration, toys, clothing, etc.
You will also see more refrigerated and frozen selections.
In addition, Dollar Tree is also "aggressive expanding" its frozen and refrigerated products of $ 3, $ 4 and $ 5. In 2022, the company introduced these products, as well as new storage coolers, in 3,500 stores.
"This consists of three cooler doors, one at each price with an attractive selection of protein, pizzas, ice cream and more, to which customers respond positively," said Dreiling during the call.
According to Dreiling, buyers who bought at least one of these most expensive items spent in double compared to customers who have not put any "multiplied items" in their baskets.
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The reduction chain opens hundreds of new stores.
Also when calling on March 1, Jeff Davis , Dollar Tree's financial director, said we will see many more Dollar Tree stores appear in 2023.
"Our productivity growth and improvement projects will include around 650 new stores," said Davis during the call.
Davis has not provided additional comments to where and when the new stores will open, or what they might look like. He also did not specify if this total includes both dollar trees and family dollars.
It should be noted that everyone is not delighted with more dollar stores in general. Some smaller communities fear harming local businesses - even if Dollar Tree said that additional stores help prevent food deserts , by The New York Times . Addressing this opposition, since 2019, of store proposals of more than $ 70 (including those of Dollar General and Dollar Tree) have been rejected by the communities, said the point of sale, Citing a report of the Institute for Local Auto-Rapporte.
Existing stores get a youthful treatment.
Davis also noted that around 1,000 stores are being renovated in 2023. Last year, Dollar Tree renovated around 796 stores across the United States, Davis, did not enter into detail on renovations, But this is not a new initiative. According to Pymnts, Dollar Tree actively renovates its Full store imprint To better serve rural communities and meet the increased demand for food and drink options.
During a call for results in November 2022, Mike Wytinski , the former president and chief executive officer of Dollar Tree, said that family stores to a dollar, in particular, obtain more product options and more Innovative provision of stores and the configuration of the shelves.
"This allows us to bring more assortment into the store and [get] more sales per square foot," he said. "The cooler is absolutely an improvement. And each time we renovate a store, we want to bring more coolers, both cold - drinks to the cooled their needs."
Better life Contacted Dollar Tree for more information on its plans for 2023, but has not yet heard.
