CNN BUSINESS | Dollar Tree will open 600 stores this year

New York (CNN Business) – Dollar Tree said Wednesday that it will open 600 new stores this year, continuing dollar store chains’ torrid growth across the United States.

The announcement comes as the pandemic has taken a toll on many retailers and forced thousands of stores to close. But dollar stores have surged as economically-strapped customers seek out bargains on food, household essentials and other items. Dollar Tree (DLTR) said Wednesday that sales at stores open for at least one year increased 4.9% during the 13 weeks ending Jan. 30, compared with the same stretch a year ago.

The company, which also owns the Family Dollar chain, will open 400 Dollar Tree stores and 200 Family Dollar stores this year. The two chains combined have nearly 15,700 US locations and last year opened around 400 stores.  —read more—