Dollar Tree closing 75 stores while opening 400 new locations

20 July 2026 · Source balance: Slightly Right

Dollar Tree announced it will close approximately 75 stores during fiscal 2026 while opening roughly 400 new locations, resulting in net store growth despite the closures. The Chesapeake, Virginia-based retailer made the announcement in its first-quarter earnings report released May 28. As of May 2, the company operated 9,382 stores across the United States and Canada. The closures are part of a broader store quality optimization effort, with roughly 42 percent of Dollar Tree stores currently operating below the company's own standards. Simultaneously, the discount chain is converting stores to a multi-price format, expanding merchandise offerings beyond its traditional dollar-price point to include items priced between three and five dollars. During the first quarter alone, Dollar Tree converted or added about 630 stores to this multi-price format, bringing the total to approximately 5,900 locations. The company's expansion strategy increasingly targets more affluent neighborhoods, with 49 percent of new stores opened over the past six years located in wealthier metro areas, compared with 41 percent in the prior six-year period. CEO Mike Creedon stated the company remains focused on improving stores and strengthening customer relationships while pursuing high-teens earnings growth.