Business Family Dollar and Dollar Tree will close 1,000 stores - Inflation has hit Family Dollar customers and the chain’s profit

Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores.

Family Dollar will close 600 locations in the first half of 2024 and 370 stores over the next several years as store leases expire. Family Dollar has around 8,000 US stores.

Dollar Tree, which owns Family Dollar, also said it will close 30 stores as leases expire.

Years of mismanagement and poor conditions in stores have hurt Family Dollar’s brand. The company has struggled as discount competitors such as Dollar General, Walmart and others grew. More recently, inflation has hit Family Dollar customers and the chain’s profits.

The closures are likely to leave a void for Americans with limited shopping options.

Understaffed and dangerous stores​

Dollar Tree, which focuses more on middle-income shoppers in suburbs, bought Family Dollar in 2015 for $8.5 billion.

The combined company hoped that by joining forces, it could grow its customer base, reduce costs and fend off bigger retailers like Dollar General, which is mainly in rural areas.

But Dollar Tree has struggled to integrate Family Dollar and has closed hundreds of Family Dollar stores in recent years.

Family Dollar stores were in worse condition than Dollar Tree expected when it acquired the business, analysts say. Although Family Dollar has renovated thousands of stores in recent years, many stores are still poorly maintained. Stores are often understaffed and boxes block aisles.

Family Dollar, Dollar Tree, Dollar General and other discount stores have had longstanding theft issues, operating stores with just a handful of employees who have at times been victims of violent robberies and other crimes.

Dollar Tree employees have complained about unsafe working conditions, and OSHA last year criticized the company for a “continued disregard for human safety” that “suggests the company thinks profits matter more than people.”

Family Dollar was hit with a record fine this year for violating product safety standards after selling items that were stocked in a rat-infested warehouse in West Memphis filled with live, dead and decaying rodents.

The $41.6 million fine was “the largest-ever monetary criminal penalty in a food safety case,” the Justice Department said.

Last year, Dollar Tree announced it would review its entire portfolio of Family Dollar stores to identify underperforming locations.

This story is developing and will be updated.

https://edition.cnn.com/2024/03/13/investing/family-dollar-dollar-tree-closing-stores/index.html (Archive)

 

[pot of sneed]

That's a given considering everything is getting more expensive. What would you even be able to buy for a dollar these days? Not worth the fuel it costs to transport cheap chinese tat across the country.

 

[Haramburger]

The company has struggled as discount competitors such as Dollar General, Walmart and others grew.

What did they mean by this?

 

[Dysnomia]

Family Dollar, Dollar Tree, Dollar General and other discount stores have had longstanding theft issues, operating stores with just a handful of employees who have at times been victims of violent robberies and other crimes.

Well if Big Corpo would hire more employees and security guards...

This is the same in so many stores. They just close them rather than spend money trying to make them better.It's all a big tax write off. "Underperforming store". More like "junkies and hoodrats keep stealing". Of course a lot of times local laws aren't strict enough with shoplifters. It needs to be something you really pay for. Like that fat bitch that stole 40k worth of Target merchandise. She should be made an example of. But that's likely not gonna happen.

 

[oldTireWater]

I miss dime stores.

I also miss a country that wasn't so crime-ridden.

The youth today will say the same thing in 30 years because things aren't likely to get much better.

 

[Party Hat Wurmple]

Well if Big Corpo would hire more employees and security guards...

This is the same in so many stores. They just close them rather than spend money trying to make them better.It's all a big tax write off. "Underperforming store". More like "junkies and hoodrats keep stealing". Of course a lot of times local laws aren't strict enough with shoplifters. It needs to be something you really pay for. Like that fat bitch that stole 40k worth of Target merchandise. She should be made an example of. But that's likely not gonna happen.

Dude....Are you retarded? Closing 1000 locations is not a "tax write off". That's apocalyptic business-wise. That's A LOT of fucking stores.

 

[Celebrate Nite]

"Underperforming store". More like "junkies and hoodrats keep stealing". Of course a lot of times local laws aren't strict enough with shoplifters.

Good News! New York is cracking down on that... except it's as laughable as you'd expect

https://archive.is/IGQx7

That plan includes $25 million to create a retail theft team within the New York state Police and $15 million for district attorneys and local law enforcement. A $5 million tax credit will also be included to help small businesses pay for additional security measures like guards and cameras.

“We've been successfully working with local law enforcement to drive down gun violence, murders and shootings – now we must take that same approach to curb organized retail theft,” Gov. Hochul said. “It’s time to give police and prosecutors the tools they need to go after retail thieves and back our businesses with the full force of the law."

 

[Gangstalker #32194]

Yeah, it turns out nobody really wants to grovel at the feet of niggers bums karens and boomers for minimum wage, so they're stuck with a skeleton crew of burned out cashiers and stockers who could give less of a fuck if you steal everything that isn't nailed to the ground and on fire. Shit, they're probably stealing from the store too.

It's more likely that retail as an industry will learn nothing from this, competent workers will do anything they can to stay out of the service sector, and more people will shop online. And why shouldn't they?

You don't have to flag down a clerk who's head is foggy with suboxone to unlock whatever it is you need, you don't have to worry about some sex pest filming you, and you don't have to make a mad dash to your car before you get spotted by a tweaker in the parking lot. All you really need to do is go along with the planned centralizion of consumer logistics being carried out by an oligopoly run by people who hate you and want you destroyed.

 

[Celebrate Nite]

You don't have to flag down a clerk who's head is foggy with suboxone to unlock whatever it is you need

This is really the only thing that royally pisses me off to no end

"Sorry, you can't clean yourself because we've stuck all the cleaning stuff under lock and key"

it was bad when they did it to video games, this is just as bad, if not worse.

 

[Gangstalker #32194]

Just wait till they do it with bread and tshirts, it'll end up being more efficient to do it like they did in the Soviet Union where you just tell the clerk the stuff you want and they grab it for you because the whole store is locked up

 

[PotatoSalad4711]

That's a given considering everything is getting more expensive. What would you even be able to buy for a dollar these days? Not worth the fuel it costs to transport cheap chinese tat across the country.

Except none of it was $1. Family Dollar was more like Dollar General, cheaper shit but nothing was truly $1. In fact their stuff isn’t really better than WalMart.

Dollar Tree had that but raised prices to $1.25, although some things in the store are higher. The only thing it’s really good for is holiday decorations. Occasionally you’ll find some hidden gems in there, usually some discontinued items they got from other stores, but that’s about it.

It’s all so useless. But these stores usually operate well in small cities that aren’t large enough to support an actual Walmart or Target.

 

[.iota.]

Family Dollar was hit with a record fine this year for violating product safety standards after selling items that were stocked in a rat-infested warehouse in West Memphis filled with live, dead and decaying rodents.

"it's not even hot outside!" exclaimed former resident and customer, ethan oliver ralph.

 

[Idiotron]

 

[Anasûrimbor Kellhus]

Ver archivo adjunto 5812029

how this piece of shit can sit there and just lie smugly every day is beyond me. I'd be full of shame if it was me.

 

[JosephStalin]

Ya, local Dollar Tree has most things at $1.25, other items more than that, a few items $1 or less. Good place to find things I can't get at the commissary.

 

[X Prime]

Family Dollar is absolutely awful. Out of curiosity I once looked at one, its prices were actually higher than a normal grocery store for some items.

It's just a place to fleece blacks and poor people who have no memory retention.

 

[6 Years Ago]

The only thing it’s really good for is holiday decorations.

I don't know if it's old or what but Halloween/Easter candy is waaaaaaaaay cheaper at these dollar places than anywhere else. You can get an entire bag of brand name candy for the price of a bar in a regular store.

 

[Echo_Ender]

It was inevitable once the supply chain was fucked by Covid shennanigans. They had enough stocked warehouses to last a while, but it's almost gone and thus prices go up.

Once their prices are on par with other retailers, it's all over.

That's not even mentioning that unless it's in a rural area, they're absolutely saturated with certain urban individuals that steal, play around in the store, and get into fights...

 

[Pissmaster]

Ya, local Dollar Tree has most things at $1.25, other items more than that, a few items $1 or less.

Enjoy it while it lasts. The Dollar Trees around my parts have "Dollar Tree Plus" sections that don't cater to the $1.25 limit. They're also selling Red Bull in the coolers for $3/12oz now.

 

[Fellen]

These stores won't be missed. Discount stores bring the worst people into your area: spics and niggers.