News Formal

Dollar Tree to shutter nearly 1,000 stores after dismal earnings report

  • 📰 KPIXtv
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 53%

Italia Notizia Notizia

Italia Ultime Notizie,Italia Notizie

Ten years after acquiring Family Dollar, discount chain continues to struggle amid growing competition from Aldi, Dollar General and Walmart.

Dollar Tree on Wednesday said it plans to close nearly 1,000 stores over the next several years, after disclosing significant losses in its latest earnings report.The discount store chain lost $1.7 billion in the fourth quarter, down sharply from earnings of $452.2 million a year ago. Revenue climbed to $8.6 billion, from $7.7 billion, but fell slightly short of Wall Street forecasts.

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. 'This dramatic cull is the coup de grâce in the rather botched acquisition of the Family Dollar chain, which has caused Dollar Tree nothing but hassle since it was completed back in 2015,' Neil Saunders, managing director of GlobalData, said in a note.

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 443. in İT
 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Cramer's week ahead: Earnings from Adobe, Dollar Tree and Dollar GeneralCNBC’s Jim Cramer on Friday guided investors through next week’s most important happenings on Wall Street.
Fonte: NBCNewYork - 🏆 270. / 63 Leggi di più »