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Dollar Tree completes acquisition of Canada’s Dollar Giant Store
Chesapeake, Va. -- Dollar Tree announced that it has completed its purchase of the assets of Dollar Giant Store Ltd, which is based in Vancouver, B.C. The purchase is Dollar Tree’s first expansion of its retail operations outside of the United States.
Dollar Giant stores offer a wide assortment of quality general merchandise, contemporary seasonal goods and everyday consumables, all priced at $1.25 (CAD) or less. The stores average 9,000 sq. ft. and operate in British Columbia, Ontario, Alberta and Saskatchewan.
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Calling All FASB Comments
In the November issue of Chain Store Age (page 28), leasing specialist Bill Bosco discussed what is being called the biggest threat to retailers’ earnings: the Financial Accounting Standards Board’s (FASB) proposed new rules for lease accounting.
According to Bosco and other experts, the new rules will essentially turn operating leases into capital leases for accounting purposes, wreaking havoc on retailers’ bottom lines.