Why is Family Dollar closing hundreds of stores?

Why is Family Dollar closing hundreds of stores?
Why is Family Dollar closing hundreds of stores?
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Employees say Family Dollar store was without air conditioning for weeks

Temperatures have spiked at over 93 degrees in the store since the air conditioning broke down weeks ago, employees say.

Arizona Republic

Dollar Tree will close 600 Family Dollar stores in the first half of 2024, the company announced on March 13. It would also allow 370 Family Dollar and 30 Dollar Tree stores to close once their lease is finished.

There are 88 Family Dollar stores in Arizona, according to the company’s website. At the time of publication, the company did not say how many of these stores would be closed.

Despite these closures, Chairman and Chief Executive Officer Rick Dreiling said he was optimistic about the company’s future.

“While we are still in the early stages of our transformation journey, I am proud of what our team accomplished in 2023 and see a long runway of growth ahead of us. As we look forward into 2024, we are accelerating our multi-price rollout at Dollar Tree and taking decisive action to improve profitability and unlock value at Family Dollar.”

More: These major retailers are closing stores across the US. What Arizona shoppers need to know

The article is in Dutch

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