Dollar Tree plans to close 1,000 stores

Dollar Tree announced Wednesday that it will close 1,000 Family Dollar and Dollar Tree stores.

“During the fourth quarter of fiscal 2023, the Company will implement a comprehensive store plan, including identifying stores for closure, relocation, or banner changes based on assessments such as current market conditions and individual store performance. announced that it has begun a portfolio optimization review of “factors,” the company said. Said In a press release.

As a result, the company said it plans to close about 600 Family Dollar stores in the first half of fiscal 2024, followed by about 370 Family Dollar and 30 Dollar Tree stores over “several years.” Lease ends.

Dollar Tree said in a press release that it operated more than 16,000 stores in 48 U.S. states and five Canadian provinces as of early February.

A January study found dollar stores are the fastest-growing food retailers, and the households that make up the majority of store purchases typically have lower incomes and are owned by people of color. .

Researchers behind the study found that 100-yen store food and beverages are typically low in nutrients and high in calories, and their presence is rapidly increasing in the remote South, where baseline levels of obesity and food insecurity are high. It is said that the number of cases is increasing.

“Dollar stores play an increasingly important role in household food purchasing, but research on them is lacking,” lead author Wenhui Feng, a professor at Tufts University who specializes in health policy, said in a statement. Ta.