Dollar Tree's turnaround plan is producing results as more customers are choosing to shop in its stores, CEO Gary Philbin told CNBC Wednesday.
The company has invested $1 billion to renovate its Family Dollar stores to give it a"wow" factor and the entire enterprise was able to generate about $2 billion of cash flow, Philbin said in an interview on "Mad Money with Jim Cramer." Dollar Tree is on a mission to renovate a total of 1,000 stores. The company still plans to continue closing underperforming Family Dollar locations that could total 390 stores. But Philbin also said they have been"very methodical" about paying down debt, which has helped their rates go down.
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Dollar Tree to close 390 Family Dollar stores in 2019Analysts say Family Dollar has been a drag on Dollar Tree's earnings and 'remains the weaker part of the business.' Ecommerce is king now Monopoly LawyerGirlMiami a bit of what you were speaking about right?
Source: BusinessInsider - 🏆 729. / 51 Read more »
Dollar Tree to close up to 390 Family Dollar stores this year, loses $2.3 billion in fourth quarterDiscount retailer Dollar Tree plans to close 390 Family Dollar stores this year while renovating 1,000 other locations, the company said in releasing its earnings report Wednesday that showed a $2.3 billion loss during the fiscal fourth-quarter. It didn’t make cents to keep them. I’ll show myself out. NewsRadio930 Yikes...sorry to hear this...sad what is happening to retailers NewsRadio930
Source: CNBC - 🏆 12. / 72 Read more »
Dollar Tree chops value of Family Dollar brand, to shut 390 storesShares of the company rose 2 percent as it reported better-than-expected fourth-quarter same-store sales, along with the results of its full strategic assessment of the Family Dollar business. Hedge fund investor Starboard Value LP in January urged Dollar Tree to explore all alternatives for its Family Does anyone remember that Perdue was the exalted ceo of family dollar? Nothing but the best for trump and his cronies! Family dollar was and always was a rip off store and fitted well with Perdue!
Source: YahooNews - 🏆 380. / 59 Read more »