From Wikipedia, the free encyclopedia
|Industry||Retail, Variety, Discount|
|Founded||November 1999Bridgeton, Missouriin|
|Headquarters||Chesapeake, Virginia, United States|
Number of locations
|Slogan||your 1st stop for savings|
Deals (previously known as DEAL$) is an American chain of discount variety stores currently owned by Dollar Tree. There are more than 194 stores located in shopping centers, malls, and urban areas in 19 states throughout the country.
Each store stocks a variety of products including national, regional, and private-label brands and also accepts manufacturer's' coupons at all of its store locations. Departments found in a Deals store include health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, and books. The majority of Deals stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods.
Only two years after opening, Deals became a success with 41 stores in eight states with $30 million in sales. 60 more stores were scheduled to open in 2002 along with posting its first profit in 2002. Tom Holley, President of the company, was even somewhat surprised by the success of the Deals stores, which began shortly after Gramex sold its Grandpa's discount chain to Value City Department Stores Inc. in November 1999. Holley launched the first store in November 1999 and had expected to have about 25 stores by the end of 2001, but his projections were too conservative. Store No. 41 opened Jan. 29 in Cleveland. Financial backing for the stores came from Bush O'Donnell Smith Capital Services in Clayton, Walnut Capital in Cincinnati and several private investors in St. Louis. Among the local investors are Holley's brothers: David Holley, a principal at Kirkwood High School; Michael Holley, a teacher at Nipher Middle School in Kirkwood; and Scott Holley, who teaches at Westminster Christian Academy.
In 2003, it was announced that SuperValu had acquired of Deal$. At the time, Deal$ operated 53 stores across eight Midwestern states. Jeff Noddle, SuperValu president and chief executive officer had said, "We are excited to introduce a general merchandise strategy into our breakthrough grocery format Save-A-Lot through the acquisition of Deal$. By following the same disciplined approach that secured Save-A-Lot's leadership position, we can positively influence the growth of our extreme value retail business over the long term." Save-A-Lot's entire store network was expanded by approximately 150 stores in fiscal 2003 representing approximately 100 new Save-A-Lot's and the addition of the Deal$ store base. The acquisition was included in SuperValu's previously announced capital spending plan of $500 - $525 million and was expected to be earnings neutral in fiscal 2003.
In 2006, Dollar Tree, Inc. acquired 138 Deal$ stores from SuperValu, Inc. In 2013, Deals launched a new full e-commerce website which sells merchandise in both single items and larger quantities to individuals, small businesses, and organizations. The company also advertises in-store events, specials, seasonal promotions, and featured products through the site. Customers can locate a retail store, research information about Deals, view product recalls, and purchase products online to ship to their office, home, or local Deals or Dollar Tree store.
- "about deals stores". Deals-Stores.com. Retrieved 2013-06-23.
- Manning, Margie (3 February 2002). "Holley wheels his 'Deals' to 41 stores, $30 million". St. Louis Business Journal. American City Business Journals. Retrieved 31 October 2014.
- "SUPERVALU Completes Acquisition of Deal$ -- Nothing Over a Dollar, LLC". supervaluinvestors.com. Retrieved 31 October 2014.
- "Dollar Tree Completes Acquisition of Deal$ Stores". DollarTreeInfo.com. Retrieved 2013-06-23.