Real Estate
As of Apr 29, 2017, the company operated 14,482 stores consisting of 6,444 Dollar Tree stores and 8,038 Family Dollar stores, in 48 states, the District of Columbia, and 5 provinces in Canada.
During fiscal 2016, the company opened 584 new stores and closed 101 existing stores. In the first quarter of 2017, the company opened 164 stores and closed 16 stores. The company plans to open 650 new stores in fiscal 2017.
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 10,500 gross square feet at the end of the year, while Family Dollar stores averaged 7,200 selling square feet and 8,300 gross square feet. In fiscal 2017, 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 | 2016 | 2015 | 2014 | 2013 | 2012 | |
|---|---|---|---|---|---|---|
| Stores | 14,482 | 14,334 | 13,851 | 5,367 | 4,992 | 4,671 |
| Store growth | 3.5% | 3.5% | 158.1% | 7.5% | 6.9% | 7.4% |
| Total gross square feet (M) | 133,628 | 132,100 | 132,100 | 58,300 | 54,300 | 50,900 |
| Total gross square feet growth | 3.7% | 0.0% | 126.6% | 7.4% | 6.7% | 7.4% |
| Avg store gross sq ft | 9,200 | 9,200 | 9,500 | 10,900 | 10,900 | 10,900 |
| Avg store gross sq ft growth | 0.3% | -3.4% | -12.2% | -0.1% | -0.2% | 0.0% |