600 Family Dollar Stores Closing Means MORE Dollar Trees
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More Dollar Tree stores are coming!
Dollar Tree just announced that they are closing up to 390 Family Dollar stores this year, and another 200 stores will be converted from Family Dollar into Dollar Tree locations.
The Family Dollar brand was purchased by Dollar Tree in 2015 for nearly $9 billion in cash and stock in the hopes to go toe-to-toe with rival stores like Dollar General. Unfortunately, the Family Dollar chain has continued to struggle. Sources report that Family Dollar’s failures stem from neglected stores and poor merchandise selection. In response, Dollar Tree also plans to renovate 1,000 Family Dollar locations.
Will this affect Dollar Tree prices?
Dollar Tree is still under pressure by its investors to completely sell Family Dollar. Those investors also want Dollar Tree to start offering items at prices other than $1. Dollar Tree has responded by saying it will diversify its merchandise and prices on a test basis, which means we might start seeing higher price points at our local Dollar Trees. 😥
Is your location closing?
Dollar Tree has not yet released a list of closing locations. Company officials have stated, “The total number of stores closed may change depending on the Company’s ability to achieve material rent concessions from landlords.”