A new Dollar Tree is slated to be in Derby, this one on the north side of town.
At its June 20 meeting, the Derby Planning Commission approved a site plan review for the business, to be located at 312 W. Patriot Ave.
That’s south of Kohl's and east of Commerce Drive. There is one other Dollar Tree store in the city, at 620 N. Rock, No. 100.
The new 9,984-square-foot store would be in a business district, so zoning was not an issue for the DPC.
There were two individuals at the meeting representing Dollar Tree, but they declined to comment on the plans. An employee of the North Rock Dollar Tree said workers there know another location is coming, but otherwise they don’t have any details.
City Planner Justin Givens said after company officials get all their necessary approvals and a building permit the construction schedule and opening date will be up to them.
As part of the plan reviewed, there will be an access point on Patriot. The developer states that it will have 50 parking stalls on site, more than the required 34.
There also will be pedestrian access as the company will provide a five-foot sidewalk from Patriot Ave. and a five-foot pedestrian access from the sidewalk to the building entrance. An additional pedestrian access will be provided from the rear sidewalk on the private drive to the building sidewalk.
There were no deal-breaking issues in the site plan for the commission, although there was discussion on the landscaping requirements.
Member Patrick Baer remarked about the call for landscaping on the part of the property that is a private drive.
“I’m concerned we’re going down a slippery slope,” he said. “We need to stick to our rules.”
Previously known as Only $1.00, Chesapeake, Va.-based Dollar Tree Stores Inc. has more than 7,000 outlets in 48 states and in Canada. They are widespread, as 75 percent of the nation’s population now lives within five miles of a Dollar Tree outlet.
The discount variety stores are supplied by 11 distribution centers.
A Fortune 500 entity, the $26.14 billion company’s stock trades under the symbol DLTR.
The stores stock a wide range of goods including health and beauty products along with a selection of food. They also are known for their inventory of party supplies, including balloons and greeting cards.
Its roots go back to 1953, but the Only $1.00 name didn’t start until 1986 and the stores were mostly in enclosed malls during its early years.
The company went public in 1995 and then it acquired a number of other dollar-style stores.
It expanded to Canada in 2010 with an acquisition of Dollar Giant.
In 2014, Dollar Tree announced that a deal had been reached and approved by both parties to purchase Family Dollar for $8.5 billion plus acquisition of the $1 billion in debt held by Family Dollar. Combined, the two chains have more than 14,000 stores.
The dollar store concept has been in a rapid growth track, according to online site visualcapitalist.com.
The site states that between 2007 and 2017, more than 11,000 new dollar stores were opened; or about 93 new stores a month, or three per day.
The big three: Dollar Tree and its Family Dollar division along with Dollar General have about 30,000 stores, more than the six other biggest retailers combined.
Dollar Tree and Family Dollar are more prominent in urban and suburban areas such as Derby. Dollar General, on the other hand, focuses on rural areas and small towns without other retailers.
One reason dollar stores are growing, according to Pew Research, is a shrinking middle class.
The share of the country’s income held by the middle class fell from 61 percent to 50 percent from 1971 to 2015, according to Pew, and with that trend, consumers who previously went to a shopping mall often head to a dollar store instead.