Dollar Tree plans to close dozens of stores nationwide this year while continuing to expand its overall footprint.
The Chesapeake, Virginia-based company said in its first-quarter earnings report, released May 28, that it expects to close about 75 stores during fiscal 2026. It did not say which locations will shut their doors.
At the same time, Dollar Tree plans to open roughly 400 new stores this year, meaning its total store count is expected to grow.
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The retailer opened 113 stores during the first quarter, bringing its total footprint to 9,382 locations across the United States and Canada as of May 2.
Dollar Tree also converted or added about 630 stores to its multi-price format during the quarter. About 5,900 locations now sell products at various price points.
CEO Mike Creedon said the company is focused on improving its stores, expanding its product selection and strengthening its relationship with customers.
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"As we celebrate our 40th anniversary in 2026, we are encouraged by the progress we are seeing across the business and remain focused on making thoughtful investments in our stores, assortment and customer experience — building Dollar Tree to last for decades to come," Creedon said in a statement.
The growth comes as the discount retailer increasingly opens stores in more affluent areas in an effort to attract higher-income shoppers who tend to spend more per visit.
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A February analysis by Bloomberg News found that 49% of new Dollar Tree stores opened in the last six years were located in wealthier parts of metro areas around the country, up from just 41% in the preceding six years.
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Dollar Tree could not immediately be reached by FOX Business for comment.
FOX Business' Eric Revell contributed to this report.
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