Dollar Tree, as it celebrates its 40th year of business, has opened its 9,500th store in Suffolk, Va. Additionally, the chain has announced a $40 million investment through its newly established Dollar Tree Impact Fund to expand access to essentials and support its communities in the U.S. and Canada.
“Forty years ago, Dollar Tree started right here in Hampton Roads with a simple promise to deliver unbeatable value, convenience and thrill-of-the-hunt discovery. Today, 9,500 stores later, that promise is stronger than ever,” said Mike Creedon, CEO of Dollar Tree. “As we look to the future, we’re proud to build on our legacy with a $40 million investment in the people and places that have been part of our story, helping create more opportunities for our associates, our customers, and the communities we call home.”
Located at 6150 College Drive in Suffolk, Dollar Tree’s 9,500th store represents “a meaningful homecoming for a company with deep roots in southeastern Virginia,” it noted in a statement.
From its beginnings in Norfolk to its headquarters in Chesapeake, Dollar Tree serves more than 100 million U.S. households annually.
To mark the milestone, more than 100 Dollar Tree employees will join Keep Suffolk Beautiful for a community cleanup as part of Keep America Beautiful’s Greatest American Cleanup, a national effort celebrating America’s 250th birthday.
Dollar Tree’s $40 million commitment will support nonprofit organizations and community-led projects that address local needs and help neighborhoods thrive.
“The investment reflects Dollar Tree’s belief that creating value means more than serving customers. It also means strengthening the communities where its associates, customers and neighbors live and work. The Impact Fund will build on that legacy by investing in people, families and community organizations where Dollar Tree can make a meaningful difference,” the statement continued.
The Dollar Tree Impact Fund will focus on three areas: Access to essentials, economic opportunity and thriving communities.
Business Without Family Dollar
In March 2025, Dollar Tree announced its decision to divest the popular Family Dollar brand to Brigade Capital Management and Macellum Capital Management for around $1 billion.
Dollar Tree acquired the brand in 2015 for $8.5 billion.
After a review of potential alternatives for the Family Dollar business segment last year, the Dollar Tree leadership team and board of directors determined that a sale of Family Dollar to Brigade and Macellum “best unlocks value for Dollar Tree shareholders and positions Family Dollar for future success.”
“This is a major milestone in our multi-year transformation journey to help us fully achieve our potential,” said Creedon at the time. “We will continue to grow and optimize our Dollar Tree business to maximize value for Dollar Tree associates, customers and shareholders with an enhanced focus on compelling initiatives, including our expanded assortment, significant planned new store openings across the United States, and transactions that advance our growth strategy.”
Creedon continued, “Under the experienced, dynamic leadership of Family Dollar President Jason Nordin, and with the financial support of Brigade and Macellum, Family Dollar will be well-positioned for growth as a private company. With the support of a dedicated team, Family Dollar will be able to strengthen its commitment to providing affordable and essential goods to customers so they can do more with less.”
Stay tuned for more updates from CStore Decisions.
