Dollar Tree plans to close about 1,000 stores – 97 percent of them under its Family Dollar banner – in the next couple of years.
The company said in its quarterly earnings report on March 13, as reported by the Wall Street Journal, it plans to close about 600 Family Dollar stores in the first half of this fiscal year, and another 370 Family Dollar and 30 Dollar Tree stores in the next couple of years.
There are reportedly about 8,300 Family Dollar locations in the U.S. Dollar Tree, with about 8,500 stores in the U.S. and Canda, has a limited assortment of food, mostly shelf-stable, while Family Dollar stores announced plans to add some of the most popular fresh produce items in 2021.
Chesapeake, VA-based Dollar Tree Inc. – which became famous for its $1.00 price point – acquired Family Dollar – a direct competitor to Goodlettsville, TN-based Dollar General – in 2018.
Since then, Dollar Tree has upped its price point to $1.25, and explored ways to add more items at higher prices.
