Dollar Tree, Family Dollar to close 1,000 stores

Retail Dive

Dollar Tree Inc. plans to close 600 of its Family Dollar stores during the first half of the year, the company said Wednesday. The retailer also intends to close an additional 370 Family Dollar stores and 30 Dollar Tree stores in the coming years as leases expire, CEO Rick Dreiling said during an earnings call.

Telsey Advisory Group analysts, led by Joe Feldman, characterized Q4’s results as mixed and the Q1’s profit outlook as soft but added, “we continue to believe the company remains well-positioned for the longer term to gain market share, given its convenient locations, value merchandise and transformative, initiatives.”

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