Dollar Tree is planning to close 1,000 of its stores, primarily outlets operating under its Family Dollar brand, the company disclosed during an earnings call.
The company plans to close 600 of its Family Dollar stores during the first half of this year, Rick Dreiling, Dollar Tree's CEO, said during the call. The firm also intends to close another 370 Family Dollar outlets and 30 Dollar Tree stores in coming years as leases expire.
The store closings are the result of a review of the Family Dollar portfolio that began in November aimed at identifying underperforming stores for closure, relocation or re-branding.
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