Dollar Tree

Predictability improved after exiting Family Dollar. For Q3 FY2025, Dollar Tree’s continuing operations delivered 9.4% sales growth with 4.2% comps; year-to-date comps were 5.4%. The business model has recurring, high-frequency trips and benefits from trade-down in tougher macro environments.

The store base exceeds 9,200 across the U.S. and Canada, and the company is executing conversions to its 3.0 format and opening new units, including former 99 Cents Only locations, which should support steady unit-driven growth.

Exposure to tariffs, wage rates, and shrink injects some variance, but overall trajectory is more stable versus the pre-divestiture mix.