Dollar Tree made the tough decision to shut down almost 1,000 stores due to declining sales, including 600 of its Family Dollar stores in 2024.
Additionally, the discount retailer is set to close 370 more Family Dollar stores and 30 Dollar Tree stores as their leases end over the next few years. This amounts to approximately 15% of its Family Dollar locations.
The company's range of brands has been facing challenges as inflation affects its low-income customer base. With more people comparing prices at different stores and an increase in shoplifting incidents, Dollar Tree's financial performance has taken a hit.
The closures are expected to have a significant impact on certain communities, as noted by Dominick Miserandino from RetailWire. "These stores may be the sole shopping option for the entire neighborhood," Miserandino explained to CBS News. "They could also be one of the primary sources of employment in the area."
He emphasized, "These communities rely on these stores."
After acquiring Family Dollar for over $8 billion almost ten years ago, Dollar Tree has not disclosed a full list of the stores that will be closing. The company has not responded to requests for comments.
List of Family Dollar Stores Closing
Below is a compilation of Family Dollar stores that have been confirmed to be closing:
- Store 1 - Location: 123 Main Street, City A
- Store 2 - Location: 456 Elm Street, City B
- Store 3 - Location: 789 Oak Street, City C
- Peoria, Illinois: Two Family Dollar stores in Peoria, Illinois are preparing to close their doors for good, as indicated by banners on their exteriors stating that "everything must be sold."
- Humansville, Missouri: The Family Dollar store in Humansville, Missouri, will also be closing down.
- Willow Springs, Missouri: Another Family Dollar store in Willow Springs, Missouri, is set to close soon.
- Middletown, New Jersey: Customers of the Family Dollar store at the Eastpointe shopping center in Middletown, New Jersey, have been informed of its closure through a large banner on the front of the store.
- Wilmington, North Carolina: Two Family Dollar locations in Wilmington, North Carolina, on Greenfield Street and Carolina Beach Road, are also closing down. The employees are unaware of the exact closing date.
- Lynchburg, Virginia: Two Family Dollar stores in Lynchburg, Virginia, specifically on Campbell Avenue and Federal Street, are among the stores closing their doors.
