Dollar Tree zeroes in on grocery
Dollar Tree is planning to add “hundreds of national brand equivalents” to its consumables private label portfolio in the back half of the year, Rick Dreiling, the discounter’s chairman and CEO, told investors during the company’s fourth-quarter earnings call. Also in 2023, Dollar Tree is aiming to add 16,000 cooler doors to its stores, eventually offering roughly 30 doors per store. During Q4, which ended Jan. 28, Dollar Tree reported same-store sales growth of 8.7% for its Dollar Tree banner and 5.8% for its Family Dollar banner. The company’s consolidated net sales for the quarter increased 9% year-over-year, to $7.7 billion. For all of fiscal year 2022, Dollar Tree recorded consolidated net sales of $28.3 billion, up 7.6% from the prior year.