Dollar Tree, parent company of Matthews-based Family Dollar, will re-brand hundreds of its Deals stores into Dollar Trees or Family Dollars by next summer as it works to expand the combined company.
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Dollar Tree’s website lists seven Deals stores in South Hampton Roads – three in Norfolk, and one each in Chesapeake, Portsmouth, Suffolk and Virginia Beach.
Of 222 Deals shops, 217 might be transformed to Dollar Tree shops and the opposite 5 to Family Dollar.
These stores offer consumers low prices for everyday requirements as well as party, besides seasonal as well as home products.
“This initiative to re-brand our Deals stores enhances our ability to focus on our two primary banners, Dollar Tree and Family Dollar, while improving efficiencies throughout our business”, Sasser said in a statement. The key advantage with the service is the multi-price points for each of the products.
The Deals store conversions are expected to be completed by the end of July 2016. The discount retailer, which completed a $9 billion acquisition of rival Family Dollar in July, gapped down from above $76 on September 1 after announcing that it would not provide guidance.
Dollar Tree noted that it is on track to complete the conversion of at least 150 Family Dollar stores to Dollar Tree stores by the end of October 2015, and plans more of these conversions for 2016.
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Dollar Tree, Inc. (NASDAQ:DLTR) will continue to drive growth with the rebranding process, the CEO suggested. The rebranding will also bring efficiency into the business, he suggested.
