Real Estate
As of May 5, 2018, the company operated 14,957 stores consisting of 6,716 Dollar Tree (DLTR) stores and 8,241 Family Dollar (FD) stores, in 48 states, the District of Columbia, and 5 provinces in Canada.
During fiscal 2017, the company opened 315 DLTR stores and 288 FD stores, and closed 25 DLTR and 77 FD stores. In the first quarter of fiscal 2018, the company opened 68 DLTR stores and 62 FD stores, and closed 2 DLTR and 3 FD stores. The company plans on opening 350 DLTR and 300 FD stores in fiscal 2018, amounting to a 3.7% increase in square footage.
The vast majority of stores are leased, typically with initial lease term of 5 years, in some cases 7 to 15 years, with options to extend.
Dollar Tree stores average 8,600 selling square feet and 10,800 gross square feet at the end of the year, while Family Dollar stores averaged 7,200 selling square feet and 8,800 gross square feet. In fiscal 2018, new stores opened are expected to be approximately 8,000 - 10,000 selling square feet and 10,000 - 12,000 gross square feet for Dollar Tree stores, and 6,000 - 8,000 selling square feet and 7,000 - 9,000 gross square feet for Family Dollar stores.
| TTM | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|
| Stores | 14,957 | 14,835 | 14,334 | 13,851 | 5,367 | 4,992 |
| Store growth | 3.3% | 3.5% | 3.5% | 158.1% | 7.5% | 6.9% |
| Total gross square feet (M) | 145,134 | 143,900 | 132,100 | 132,100 | 58,300 | 54,300 |
| Total gross square feet growth | 3.4% | 8.9% | 0.0% | 126.6% | 7.4% | 6.7% |
| Avg store gross sq ft | 9,700 | 9,700 | 9,200 | 9,500 | 10,900 | 10,900 |
| Avg store gross sq ft growth | 0.1% | 5.3% | -3.4% | -12.2% | -0.1% | -0.2% |