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Omaha Steve

(99,649 posts) Wed Mar 13, 2024, 10:11 AM Mar 13

Dollar Tree to close nearly 1,000 stores, posts surprise fourth quarter loss [View all]

Source: AP

By MICHELLE CHAPMAN
Updated 8:13 AM CDT, March 13, 2024

Dollar Tree will close nearly 1,000 stores and swung to a surprise fourth quarter loss as the discount retailer took a related $1.07 billion goodwill impairment charge.

Shares tumbled 15% before the opening bell Wednesday.

Dollar Tree plans to close about 600 Family Dollar stores in the first half of this year and 370 Family Dollar and 30 Dollar Tree stores over the next several years.

Dollar Tree acquired Family Dollar for more than $8 billion almost a decade ago after a bidding war with rival Dollar General, but it has had difficulty absorbing the chain.

Read more: https://apnews.com/article/dollar-tree-discount-inflation-16f0d9b7e2d41d95ee6e6402d96169d0

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Dollar Tree to close nearly 1,000 stores, posts surprise fourth quarter loss [View all] Omaha Steve Mar 13 OP

At $1.25 they took the value out of many products bucolic_frolic Mar 13 #1

I've seen posts on Reddit about employees walking out of stores. jmbar2 Mar 13 #2

Yeah, They opened one in our small town. Jacson6 Mar 13 #5

Question. AltairIV Mar 13 #3

That cinnemon was distributed all over, not just the dollar stores. marble falls Mar 13 #4

What do you expect for $1.25? n/t Jacson6 Mar 13 #6

I love dollar tree reading glasses -buy them all the time there. I only need them riversedge Mar 13 #11

That was Dollar General Miguelito Loveless Mar 14 #24

Grew too much, too fast. melm00se Mar 13 #7

I've seen some footage on YouTube and TT about horrific working conditions wolfie001 Mar 13 #8

Some of you clearly didn't read the blurb durablend Mar 13 #9

I know...LOL LeftInTX Mar 13 #16

This is how people get duped into signing up for Medicare Advantage -- they think they're getting Medicare. diva77 Mar 15 #28

Looks like it's mostly the Family Dollar Stores it's closing JI7 Mar 13 #10

Dollar General bought a closed CVS a year ago. It has not yet opened. Place still sits vacant with a FD sign on it. LeftInTX Mar 13 #17

Trying to increase shareholders' returns Marthe48 Mar 13 #12

They're closing Family Dollar stores, not Dollar Tree. It's confusing. LeftInTX Mar 13 #18

They are closing some Dollar Tree stores Marthe48 Mar 13 #21

Dollar General doesn't own Dollar Tree. DG tried to buy Family Dollar but DT bought Family Dollar wishstar Mar 14 #25

They need to change their business plan Puppyjive Mar 13 #13

.99 enid602 Mar 14 #27

I quit going there because I felt that they were taking advantage of their employees (usually only one person or maybe SWBTATTReg Mar 13 #14

Aldi blows both of them away for groceries and toiletries NickB79 Mar 13 #15

I still love Dollar ($1.25) Tree. It's fantastic for household cleaning supplies. I do wish they'd iluvtennis Mar 13 #19

I bought a rubber broom and handle for $1.25 each. ($2.50) It's a great little broom for hair and fine dust. LeftInTX Mar 13 #20

We have the same for cleaning up the litter the cats leave on floor when getting out of thier litter box. iluvtennis Mar 13 #22

Dollar General/Dollar Tree just built . . . AverageOldGuy Mar 13 #23

DGX opened a concept store in downtown Grand Rapids rogerballard Mar 14 #26