Dollar Tree To Re-brand Deals Stores In 2016

(RTTNews) - Discount retailer Dollar Tree, Inc. (DLTR) said Tuesday that it plans to re-brand its Deals banner by converting the Deals stores to the Dollar Tree format. The company noted that the plan, which will be completed by July 2016, will enable it to better focus on growth of its two primary banners - Dollar Tree and Family Dollar.

Dollar Tree said that of its 222 Deals store locations, 217 Deals stores will be converted to Dollar Tree Stores and the remaining five will be converted to Family Dollar. The Deals store conversions are expected to be completed by the end of July 2016.

Virginia-based Dollar Tree acquired 138 Deals store locations in March 2006. Since then, the chain has grown to 222 store locations across 19 states and served customers by offering low prices on everyday essentials, party, seasonal and home products in a multi-price point environment.

Dollar Tree also said it remains committed to its initiative to re-banner hundreds of Family Dollar stores to Dollar Tree stores. In July 2015, Dollar Tree completed its acquisition of more than 8,200 Family Dollar stores across 46 states.

Bob Sasser, Chief Executive Officer of Dollar Tree said, "This initiative to re-brand our Deals stores enhances our ability to focus on our two primary banners, Dollar Tree and Family Dollar, while improving efficiencies throughout our business. We are very pleased with our progress on the Family Dollar integration, as we continue to focus on growing our business while creating long-term shareholder value."

Dollar Tree noted that it is on track to complete the conversion of at least 150 Family Dollar stores to Dollar Tree stores by the end of October 2015, and plans more of these conversions for 2016.

DLTR is trading at $63.92, up $0.87 or 1.38 percent on a volume of 758,984 shares.