Dollar Tree announced plans to close approximately 75 stores nationwide during fiscal 2026, according to its first-quarter earnings report released on May 28, 2024 [1]. The company did not specify which locations will be affected by these closures [1]. Despite the planned shutdowns, Dollar Tree is set to expand its overall footprint by opening roughly 400 new stores this year, indicating a net increase in its store count [1]. In the first quarter alone, Dollar Tree opened 113 stores, bringing its total number of locations to 9,382 across the United States and Canada as of May 2, 2024 [1]. Additionally, the retailer converted or added about 630 stores to its multi-price format during the quarter, with approximately 5,900 locations now offering products at various price points [1].
CEO Mike Creedon emphasized the company's commitment to improving stores, expanding product selection, and strengthening customer relationships. He stated, "As we celebrate our 40th anniversary in 2026, we are encouraged by the progress we are seeing across the business and remain focused on making thoughtful investments in our stores, assortment and customer experience — building Dollar Tree to last for decades to come" [1].
The company's growth strategy includes targeting more affluent areas to attract higher-income shoppers, who tend to spend more per visit. A Bloomberg News analysis found that 49% of new Dollar Tree stores opened in the last six years were located in wealthier parts of metro areas, compared to 41% in the preceding six years [1].
Dollar Tree could not immediately be reached by FOX Business for comment regarding the store closures and expansion plans [1].
CONCLUSION
Dollar Tree's strategy to close 75 stores in 2026 while opening 400 new locations this year signals a shift toward growth and targeting higher-income shoppers. The company's focus on store improvements and multi-price formats suggests a positive outlook for its long-term expansion. Market sentiment appears cautiously optimistic, with medium impact expected as Dollar Tree continues to evolve its retail footprint.