Dollar Tree will close up to 390 Family Dollar stores in fiscal 2019 — if it doesn't receive rent concessions from landlords on underperforming stores — as it works to improve its performance across the discount chain.
Dollar Tree Inc. (Nasdaq: DLTR), the parent company of Family Dollar, shared those plans as part of its fourth quarter and fiscal 2018 earnings release on March 6.
Virginia-based Dollar Tree also will re-banner approximately 200 Family Dollar stores and intends to renovate at least 1,000 stores in 2019. By comparison, approximately 75 Family Dollar stores are closed on an annual basis.
Those closings and renovations are all part of accelerated plans to improve Family Dollar’s performance, said Gary Philbin, Dollar Tree's president and CEO. Dollar Tree acquired the North Carolina-based retail chain in 2015
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