Here's Why Dollar Tree Changed Its Name

Founded in 1986, the Dollar Tree is a popular one-stop shop for great bargains on all kinds of everyday items. But while their prices may be incredibly low, the Dollar Tree itself is a successful and profitable business, boasting net sales of $12.56 billion and gross profits of $3.71 billion in 2019, according to their fiscal reports. It is also a Fortune 500 company, with over 15,000 Dollar Tree locations in 48 states across the country and in Canada, per Money Inc.

The Dollar Tree is now "the largest single-price-point company in the United States," and as such, they "have tremendous buying power at the dollar price-point" (via Dollar Tree). "We are constantly looking for great deals we can take advantage of. When we find a great value, we buy it ... and we buy a TON of it! Then, we pass this savings on to you, our customers," the company explained on their website.

The Dollar Tree is a staple in many communities across the country, and just about everybody would be able to recognize the signature green "Dollar Tree" sign. However, until 1993, it used to be called "Only $1." According to Money Inc, the company decided to change the name to "Dollar Tree" in order to avoid any potential conflicts, if they were to price any of their merchandise higher than a dollar at some point in the future. 

Despite the rebranding, the company remained committed to keeping their prices low. Their slogan — "Everything's $1" — has not changed, and they have promised to "continue to offer our customers products they need at extreme values" (via Dollar Tree). Even now, almost 30 years after their name change, customers can still purchase a wide variety of essential items, from dishware and holiday decorations to toys and office supplies, all for the low price of $1 — or less — at their local Dollar Tree.