Dollar Tree Appoints New COO Amid Family Dollar Integration - Analyst Blog
In an effort to smoothly integrate the recently acquired Family Dollar into its organization, Dollar Tree Inc. DLTR has appointed Michael Witynski as the company’s Chief Operating Officer.
Mr. Witynski has been promoted from the position of Senior Vice President of Stores. In his new role, he will oversee the Store Operations and Real Estate for the company’s namesake stores in the U.S., as well as all Retail Operations and Real Estate in Canada. He will now report to the company’s Chief Executive Officer, Bob Sasser.
Witynski has a formidable knowledge and understanding of the retail industry, gained from his profound experience of 29 years in the grocery industry. Before joining Dollar Tree in 2010, he has worked at executive levels with Shaw’s Supermarkets and Supervalu Inc. SVU.
Earlier this month, Dollar Tree successfully concluded the acquisition of Family Dollar. The merger has facilitated the former to emerge as a leading discount retailer in North America, enabling it to provide customers with products at a fixed price ($1 or less) under its own banner and multi-price point under Family Dollar.
With this acquisition, Dollar Tree has vastly expanded its store base. The company now operates about 13,600 stores across 48 states and 5 provinces in Canada, under the Dollar Tree, Family Dollar, Dollar Tree Canada and Deals brands. The company generates annual sales of over $19 billion and employs more than 145,000 people.
Currently, Dollar Tree has a Zacks Rank #3 (Hold). Better-ranked stocks in the retail-discount stores industry include Dollar General Corporation DG, and Ross Stores Inc. ROST, both carrying a Zacks Rank #2 (Buy).
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