Dollar Tree has announced a $310,000 renovation of the 10,000-square-foot former CVS building on West Frank Avenue to be designed by M Architects out of Northville, Minnesota, according to project details filed with the Texas Department of Licensing and Regulation.
Dollar Tree will be branching out to expand its footprint in Lufkin, transforming the former CVS store on West Frank Avenue into a new location for the discount chain.
The $310,000 renovation of the 10,000-square-foot facility will be designed by M Architects out of Northville, Minnesota, according to project details filed with the Texas Department of Licensing and Regulation.
A Fortune 200 Company, Dollar Tree operated 16,500 stores in the U.S. and Canada as of Feb. 1 under the brands of Dollar Tree, Family Dollar and Dollar Tree Canada. On May 15, Dollar Tree opened its 9,000th store under that brand.
"Reaching 9,000 stores is a powerful indicator of the strength of our brand and the loyalty of our associates and customers," said Mike Creedon, chief executive officer, in a press release. "It's also a testament to our profitable growth strategy, creating longterm value for our shareholders. And perhaps most importantly, every new Dollar Tree store helps us deliver on our promise to offer great value, convenience and the 'thrill of the hunt' discovery for millions of families in North America."
Dollar Tree is teaming up with the Arbor Day Foundation to plant 9,000 trees in support of strategic reforestation efforts across East Texas, including within the Davy Crockett National and Sam Houston National forests.
In March, Creedon announced the sale of Family Dollar to Brigade-Macellum for more than $1 billion, with the retail company expecting $800 million in cash proceeds. The sale marked a pivotal shift in the company's operational focus, allowing it to concentrate on expanding its own brand.
Dollar Tree also announced ambitious plans to increase the number of its "3.0 stores" -- new or converted locations that feature a range of price points up to $7, wider and better organized aisles and expanded product offerings, including frozen meat, prepared meals and premium brands.
Lufkin's CVS on Frank Avenue closed its doors in November 2023 as America's largest pharmacy chain was shuttering hundreds of locations while working to cut costs by reducing store density. The CVS on Lufkin Avenue remains open.
The Frank Avenue Dollar Tree will be Lufkin's third, joining the ones in the Clearview Shopping Center on South First Street and the Towne Square Shopping Center on North Timberland Drive.
To learn more about the business, visit DollarTree.com.