Dollar Tree Enters 99 Cents Only Stores, Expanding Market Reach

Dollar Tree made a strategic move by acquiring leases for 170 99 Cents Only stores in Arizona, California, Nevada, and Texas after the latter filed for bankruptcy. This acquisition will allow Dollar Tree to reopen the stores with its own brand products, expanding its market reach on the West Coast. The announcement signifies consolidation in the retail industry, with Dollar Tree known for offering discretionary merchandise like party supplies and home goods, while 99 Cents Only focused on selling groceries. Dollar Tree's decision to purchase leases out of bankruptcy provides a cost-effective way to grow and capitalize on competitor weaknesses.