FILE - A Dollar Tree store logo is shown on Wednesday, May 11, 2022, in Jackson, Miss. Discount retailer Dollar Tree says itâs looking at strategic options for the Family Dollar stores that it owns, including a possible sale of the segment. Dollar Tree said Wednesday that alternatives also include a spin off or other disposition of the business. Dollar Tree acquired Family Dollar nearly a decade ago for more than $8 billion after a bidding war with rival Dollar General.
Last year, nearly 1,000 Family Dollar stores were closed in an attempt to revamp the struggling business.Dollar Tree is working with J.P. Morgan and Davis Polk & Wardwell advisors in its review. Dollar Tree also announced its fiscal first-quarter financial results on Wednesday, reporting an adjusted profit of $1.43 per share on revenue of $7.63 billion. The performance met the expectations of analysts surveyed by Zacks Investment Research.