Dollar Tree, Inc. DLTR announced the grand opening of its 15000th store over the weekend. Notably, this is a significant move by the company to reach about 26,000 Dollar Tree and Family Dollar stores in North America.
Customers can avail extra discounts and promotions at the company's stores this weekend. Shoppers enrolled in the Family Dollar Smart Coupons program will get an additional 15% discount on their entire shopping at Family Dollar stores on using the digital coupon, which is redeemable on Jul 14. Also, they can receive much more in the Back-to-School promotion, which comprises school and classroom essentials worth $1 per article.
Select new Dollar Tree and Family Dollar stores will have grand opening celebrations over the weekend, which include festivities, gifts, ribbon cutting and outdoor events.
Concurrently, the company also announced the opening of its 23rd distribution center in Warrensburg, MO on Jul 12, announced in April last year. The Warrensburg facility - a $110 million investment - is expected to serve the company's Midwestern U.S. stores in 11 states. Also, management remains on track to open its 24th distribution center in Morrow County, OH, in summer 2019.
Furthermore, Dollar Tree's continued restructuring and expansion initiatives via store openings and improvement of distribution centers is commendable. In addition, this Zacks Rank #3 (Hold) company's focus on the consumables and discretionary categories as well as the everyday low-price model are expected to induce traffic growth.
In first-quarter fiscal 2018, Dollar Tree opened 130 outlets (68 Dollar Trees and 62 Family Dollars), expanded or relocated 26 outlets and shuttered five outlets. Also, the company added the Snack Zone to 214 Dollar Tree stores and plans to launch this into 750 Dollar Tree stores in the current year.
However, shares of Dollar Tree have lost 12.2% in the past three months against the industry 's 7% rise. This underperformance can be attributed to lower-than-expected results for the trailing two quarters.
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