What appears to be Florida’s first Family Dollar and Dollar Tree combination stores are being reviewed in Jacksonville and Hilliard.
One is an existing Family Dollar at 5751 N. Main St. in Jacksonville and the others are new Family Dollars under construction at 3134 Canal St. in Jacksonville and 551731 US 1 in Hilliard in Nassau County.
The city is considering an application for a Family Dollar store permit for interior and exterior renovations for tenants of a combined Family Dollar-Dollar Tree store in Main Street Station at an estimated cost of nearly $400,000.
The permit refers to it as “interior-exterior tenant renovations for a Family Dollar-Dollar Tree combo store.”
The store is listed on a previous site brochure as 12,000 square feet. The permit plan indicates a total lease area of 23,340 square feet.
It’s in the Panama Park area north of Springfield.
A second is along Canal Street in the Grand Park area of northwest Jacksonville. These plans focus on a new 10,528 square foot Family Dollar, although there is reference to a combination store. Additionally, the city has approved signage permits for Dollar Tree Family Dollar on the site.
A third is being reviewed by the St. Johns River Water Management District at US 1 and County Road 108 in Hilliard. The plans show a 10,431 square foot “Family Dollar Tree” store.
Dollar Tree Inc., the parent company, did not respond to calls, emails or an online customer service request.
The combined brand is a strategy to operate Dollar Tree side by side, clearly labeled with signs.
Dollar Tree said the combined stores leverage “the strengths of both banners to provide shoppers with extreme value and merchandise excitement under one roof.”
He said that combined stores generate 23% higher sales.
Dollar Tree began introducing the wetsuit concept in late 2019 in small towns.
Familydollar.com says nearly 300 combined stores are now open. The new format was created for population areas of 3,000 to 4,000 people, but opened up in larger areas.
A map on the site shows no combo stores in Florida.
Dollar Tree purchased Family Dollar in 2015.
Dollar Tree has focused on selling merchandise at $1 or less, but in November it said it was raising most prices to $1.25.
It also expanded its $3 and $5+ assortment at Dollar Tree Plus stores.
The Dollartree.com site shows 41 stores within a 25-mile radius of Jacksonville.
Familydollar.com shows 49 stores in Jacksonville.
Dollar Tree Inc., based in Chesapeake, Va., adjusted its strategy, including in its June 28 announcement that four top executives are gone or leaving.
Dollar Tree said in a press release that the chief legal officer and corporate secretary, chief operating officer, chief strategy officer and chief information officer have left the company. A search is underway for their successors. The company said it is in advanced discussions with multiple candidates for certain positions.
The CFO will step down after a successor is appointed and will remain as an advisor until April 2023.
“As we look to the future, I believe these changes to our leadership team will bring new perspectives and experiences that will help accelerate our continued growth and deliver even greater value to our shareholders, customers, employees and suppliers,” said CEO and President Mike. Witynski in the press release.
“Our Board fully agrees with Mike that now is the time to bring in new leadership to ensure the company remains on a solid path,” Executive Chairman Rick Dreiling said.
Dollar Tree reaffirmed its outlook for fiscal 2022 provided second-quarter sales are between $6.65 billion and $6.78 billion.
This included costs associated with the upcoming closure of the Family Dollar West Memphis, Arkansas distribution center, which was found infested with rodents earlier this year, a voluntary product recall and the temporary closure of more than 400 stores in six states. , not in Florida, which transported articles from the center.
“We are now taking the necessary steps to position ourselves for accelerated growth in what I consider to be the most attractive retail sector, especially in the current economic environment,” said Witynski.
“We will invest to improve the experience for associates and buyers, while improving operational efficiency.” he said.
“Our management team and Board of Directors are strategically aligned and believe our company is very well positioned to deliver long-term profitable growth.”
The departures come after Dollar Tree announced on May 12 that it had added a new director of supply chain and director of merchandising for Family Dollar.
During the first quarter, which ended April 30, the company opened 112 new stores, expanded or moved 33 stores and closed 30 stores.
It also expanded its Multiprice Plus offering to an additional 790 Dollar Tree stores and completed the renovation of 118 Family Dollar stores.
Retail square footage increased 3.1% from the previous first quarter to approximately 129.8 million square feet.
For the first quarter, sales increased 6.5% to $6.9 billion from $6.48 billion in the first quarter a year earlier.
The company has more than 16,000 stores
At the time of the purchase in 2015, the company described Dollar Tree as targeting customers across a wide swath of Central America with stores primarily in suburban areas. Its merchandise mix consists of consumable merchandise and miscellaneous/seasonal merchandise.
Family Dollar has been described as targeting low and lower middle income households across its urban and rural locations. Its assortment is mainly composed of consumable goods and products for the home.
The transaction allowed Dollar Tree to serve a broader customer base.
Dollar Tree said it now had 16,162 stores in 48 states and Canada as of April 30 at the end of the first quarter.
In August, Dollar Tree Inc. said it expects 400 new, renovated or relocated combination stores in fiscal 2022 and expects 3,000 combination stores in rural markets alone.
The combined stores average 12,300 square feet compared to the typical Family Dollar of 9,500 square feet.