Family Dollar and Dollar Tree will close 1,000 stores | CNN Business
www.cnn.com
Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores as inflation takes a bite out of consumers’ wallets and low-cost-retailers’ profits.

Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores as inflation takes a bite out of consumers’ wallets and low-cost-retailers’ profits.

Family Dollar will close 600 locations in the first half of 2024 and 370 stores over the next several years as store leases expire.

Dollar Tree, which owns Family Dollar, also said it will close 30 stores as leases expire.

Dollar Tree bought Family Dollar in 2015 for $8.5 billion. The combined company hoped that by joining forces, it could grow its customer base, reduce costs and fend off bigger retailers like Dollar General and Walmart. But Dollar Tree has struggled to integrate Family Dollar.

  • @givesomefucksEnglish
    13•10 months ago

    Smaller quantities at higher prices per unit.

    Bulk stores like Costco are cheapest, but buying in bulk has upfront expenses.

    If you buy at dollar tree it’s a smaller price, but a higher price overtime.

    So once you start, people get trapped.