Dollar Tree plans to close dozens of stores nationwide this year while continuing to expand its overall footprint.

The Chesapeake, Virginia-based company said in its first-quarter earnings report, released May 28, that it expects to close about 75 stores during fiscal 2026. It did not say which locations will shut their doors.

At the same time, Dollar Tree plans to open roughly 400 new stores this year, meaning its total store count is expected to grow.

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Customers shop at a Dollar Tree store on Aug. 2, 2022 in Chicago, Illinois. Dollar Tree expects its overall store count to grow as it opens roughly 400 new locations in fiscal 2026. (Scott Olson/Getty Images)

The retailer opened 113 stores during the first quarter, bringing its total footprint to 9,382 locations across the United States and Canada as of May 2.

Dollar Tree also converted or added about 630 stores to its multi-price format during the quarter. About 5,900 locations now sell products at various price points.

CEO Mike Creedon said the company is focused on improving its stores, expanding its product selection and strengthening its relationship with customers.

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A woman shops for items at a Dollar Tree store on April 28, 2025, in Alhambra, California. Dollar Tree also converted or added roughly 630 locations to its multi-price format during the first quarter of 2026. (FREDERIC J. BROWN/AFP via Getty Images)

"As we celebrate our 40th anniversary in 2026, we are encouraged by the progress we are seeing across the business and remain focused on making thoughtful investments in our stores, assortment and customer experience — building Dollar Tree to last for decades to come," Creedon said in a statement.

The growth comes as the discount retailer increasingly opens stores in more affluent areas in an effort to attract higher-income shoppers who tend to spend more per visit.

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Dollar Tree carts sit in a store in Brooklyn on March 26, 2025, in New York City. CEO Mike Creedon said the retailer remains focused on improving store conditions, expanding its merchandise assortment and strengthening its relationship with customers (Spencer Platt/Getty Images)

A February analysis by Bloomberg News found that 49% of new Dollar Tree stores opened in the last six years were located in wealthier parts of metro areas around the country, up from just 41% in the preceding six years.

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Dollar Tree could not immediately be reached by FOX Business for comment.

FOX Business' Eric Revell contributed to this report.