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Our roots go back nearly 70 years. Together we’ve grown into two iconic brands under one value-focused company. However, to appreciate how it all came to pass, you have to rewind to the 1950s to see where both Dollar Tree Family Dollar came from. Here’s a quick look at the high points of our journey. Overview.
History. Early years. In 1953, K. R. Perry [6] opened a Ben Franklin variety store in Norfolk, Virginia, which later became known as K&K 5&10. In 1970, K. R. Perry, Doug Perry, and Macon Brock started K&K Toys in Norfolk, Virginia. This mall concept grew to over 130 stores on the East Coast. [6]
The History of Dollar Tree. In 1953, K.R. Perry opened a Ben Franklin variety store in downtown Norfolk, Virginia. It was later renamed to K&K 5&10. In 1970, alongside Macon Brock and Doug Perry, K.R. Perry opened K&K Toys in the same town, which grew into an empire of over 130 stores.
The company began the year 1995 with the creation of two subsidiaries, Dollar Tree Management, Inc. and Dollar Tree Distribution, Inc. In March, management took Dollar Tree public, and during the year the company opened its 500th store. Sales topped $300 million, with per share earnings of 76 cents.
The industry powerhouse has been around since the early 1950s, and, along with other major names like Dollar General and 99 Cents Only Stores, Dollar Tree has become emblematic of American consumerism since its inception.
Almost 70 years ago, founders in Norfolk, Virginia and Charlotte, North Carolina started what would later become Dollar Tree and Family Dollar stores. Today, we are one company with over 16,000 stores and 200,000 associates, operating in all 48 contiguous states and five Canadian provinces.
Dollar Tree opened its first store in North Dakota, which marked its operation of stores in all 48 contiguous states. The Company also opened two new Distribution Centers in Joliet, Illinois, and Ridgefield, Washington.