Dollar Tree to Close 1,000 Stores After Surprise Loss

📆 3/13/2024 4:21 PM
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Dollar Tree plans to close nearly 1,000 stores and recorded a surprise fourth-quarter loss after slashing the value of a rival chain it acquired almost a decade ago. The company will 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. Family Dollar will spend over $594 million on store closures or rebranding.

Dollar Tree swung to a surprise fourth-quarter loss and will close nearly 1,000 stores after the discount retailer slashed the value of a rival chain it acquired almost a decade ago. 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. On Wednesday, Dollar Tree said that it would record a $950 million impairment against the trade name Family Dollar, on top of a $1.

07 billion goodwill charge. Family Dollar will spend more than $594 million closing or rebranding stores, essentially erasing profits from the holiday seaso

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