Dollar Tree purchased Family Dollar for $8.5 billion on July 28, 2014, and Dollar Tree/Family Dollar will open soon in Clifton Forge as part of the company’s rebranding strategy.
After obtaining the property adjacent to the Clifton Forge Town Hall that has a history of operating as an A&P, Save-A-Lot and Victory Baptist Church, Dollar Tree/Family Dollar has become one of 1,000 stores designated by the company to be part of its rebranding to make the company more profitable.
Prior to Family Dollar changing hands on Jan. 23, 2015, supply chain problems, low employee-moral and issues with management performance were identified by Dollar Tree as troubleshooting areas that would require addressing.
After gaining the title to Dollar General, Dollar Tree moved its new acquisition’s headquarters from Matthews, a suburb on Charlotte, N.C., to Chesapeake, VA., which is located in South Hampton Roads.
Off to a quick start, Dollar Tree/Family Dollar’s 13,600 stores registered sales of more than $19 billion by July 6, 2015.
The difference between Dollar Tree and Family Dollar had been pricing, Dollar Tree offering a wider variety of items at $1 compared to Family Dollar marketing fewer items but at a higher price point, typically ranging from $1 to $10.
Both stores’ main competitor had been Dollar General, and after the purchase was completed, Dollar Tree/Family Dollar moved forward with its rebranding to compete against Dollar General, Walmart, Target and Amazon.
By Jan. of 2022, Dollar Tree/Family Dollar had 211,000 workers, including full-time and part-time employees. The Clifton Forge store’s rebranding has resulted in the change of location from Family Dollar being located adjacent to Kroger in Clifton Forge to its new location. It is one of 1,000 stores designated by the company for rebranding via its attempt to increase profitability during the current economic uncertainty stemming from COVID-19’s negative impact and interruption of the nation’s supply chain that has contributed to a 40-year high inflation rate and a scarcity of some products.