Dollar Tree Inc. has announced plans to open a Family Dollar distribution center in West Memphis, Arkansas, creating more than 300 new jobs in the region. Scheduled to be fully operational by fall 2024, the state-of-the-art facility will have the capacity to serve up to 1,000 Family Dollar stores in the area.
A Transformational Reopening
According to Mike Kindy, Chief Supply Chain Officer at Dollar Tree, the company's return to West Memphis represents more than just a reopening—it signifies a transformation. The new 850,000-square-foot facility, valued at over $100 million, will not only support current needs but also accommodate future investments.
Job Creation and Expansion
Initially, Dollar Tree plans to hire over 300 employees for the facility. However, the company aims to increase its workforce in the coming years.
Dollar Tree's Acquisitions and Market Cap
Dollar Tree acquired Family Dollar in July 2015. As of Tuesday's closing, Dollar Tree's market capitalization stood at $23.79 billion, surpassing rival Dollar General Corp.'s market cap of $23.12 billion.
Year to date, Dollar Tree's stock has experienced a 23.6% decline, while Dollar General shares have faced a significant drop of 57.2%. In contrast, the S&P 500 index has rallied 13.5%.