390 Family Dollar Stores Will be Closed by Dollar Tree this Year

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Family Dollar is a discount retail store with a wide variety of merchandise marked at low prices. Dollar Tree is also a discount retail store however all of their merchandise is marked for only a dollar or less. Dollar Tree purchased Family Dollar back in 2015. They expected to see a growth in percentages but sadly overtime that was not the case.

According to an article by Jennifer Water at CoStar, “To crawl out of that hole, Dollar Tree said it closed 84 Family Dollar stores last year – 37more than what was originally planned – and said that it would shutter as many as 390more under-performing stores this year, according to its earnings statement. The company noted that it is working to achieve ‘material rent concessions from landlords,’ and the total number of stores slated to go dark could fluctuate based on the results of those talks.”

Dollar Tree does have plans to renovate some of the remaining Family Dollars and rebrand 200. There was talk about changing the “everything’s a dollar” price point but nothing has been decided quite yet.

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