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Dollar Tree, Family Dollar closing 1,000 stores over several years

Dollar Tree

The nationwide network of Dollar Trees and Family Dollar locations is being reduced as the discount retailers revealed on Wednesday that roughly 1,000 locations would close following a dismal 2023. Figures from the performance report from the prior year showed declining foot traffic and sales, according to a press statement from the business. Approximately 600 Family Dollar locations are scheduled to close in the first half of fiscal year 2024. At the conclusion of each store’s current lease term, about 370 Family Dollar and 30 Dollar Tree locations will close over the course of the next few years, according to the announcement. We know the following on the upcoming closures.

In Texas, how many Dollar Trees are there?

There are 709 Dollar Trees throughout Texas and across the nation. The company currently runs about 8,202 stores, according to data from the website Scrape Hero. This indicates that nearly 10% of the Dollar Trees in the company’s portfolio are found in Texas alone. Major Texas cities are home to a large number of Dollar Trees, as is customary for the business. The top ten Texas cities with the most Dollar Trees apiece include these three:

  • San Antonio has 54 sites, ranking second on the list.
  • Houston has 51 sites, ranking third on the list.
  • El Paso: 31 sites; ranked eighth on the list

As of this writing, Dollar Tree has not indicated if these closures will have a greater impact on any particular city, state, or region.

Why are Dollar Tree locations disappearing so quickly?

Dollar Tree stated in a news statement that it has been carrying out a “comprehensive store portfolio optimization review” in light of the company’s failing finances. Based on the study, the corporation determined that in order to optimize. Profitability and adjust to the demands of the markets it saw. It was necessary to shut down hundreds of underperforming stores. The press statement also highlighted the company’s $7.85 per share loss over. The previous year and alluded to the possibility of pricing increases in 2024. Beck For the American-Statesman, Andrew Salgado writes about hot subjects in the Austin business community.

Blog By:- ExpertSadar

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