Discount retailer to shutter or rebrand almost 600 locations and is even looking into pricing some items above a buck
Dollar Tree on Wednesday said it would close as many as 390 Family Dollar stores this year and rebrand about 200 more under its own banner. The discount chain also said it would write off $2.7 billion, or nearly a third of the value of Family Dollar, the struggling chain it bought in 2015 for nearly $9 billion following a bidding war.
«We are confident we are taking the appropriate steps to reposition our Family Dollar brand for increasing profitability as business initiatives gain traction in the back half of fiscal 2019,» CEO Gary Philbin said in an earnings statement.
