Dollar Tree has made it clear that it will be closing 600 of its Family Dollar store locations this year.
Also, 370 Family Dollar stores and 30 other Dollar Trees will shut down within the next few years when their leases expire. The total reduction by the company will account for 15% of its storefronts.
Despite its cheap offerings, inflation has weakened the buying power of the retailer’s customer base, and has driven buyers to seek the best deals for their money, according to CBS News.
In addition to inflationary pressures, a rise in shoplifting has also affected the company’s bottom line.
Dollar Tree has not released a complete list of stores that will be closing.
The following is a partial list of the stores that will be closed, per a CBS News report:
Alabama
- Slocomb: 534 Lawrence St
Florida
- Tallahassee: West Brevard Street
Illinois
- Peoria: two stores in the city will close
Mississippi
- Canton: 1074 Peace St
- Clinton: 222 Clinton Blvd
- Collins: 816 Main St
- Columbus: 60 Mike Parra Rd.
- De Kalb: 14916 Hwy. 16 W.
- Drew: 144 W. Park Ave.
- Durant: 369 E. Madison St.
- Eupora: 1960 Veteran’s Memorial Blvd.
- Flora: 101 Mansker Dr.
- Jackson: 3707 S. Siwell Rd.
- Jackson: 1201 University Blvd.
- Louisville: 401 S. Church Ave.
- Monticello: 713 E. Broad St.
- Natchez: 395 John R. Junkin Dr.
- Newton: 188 Northside Dr.
- Okolona: 511 W. Monroe Ave.
- Pearl: 621 S. Pearson Rd.
- Pearl: 3123 U. S. Hwy. 80
- Philadelphia: 800 E. Main St.
- Quitman: 548 S. Archusa Ave.
- Raymond: 825 E. Main St.
Missouri
- Humansville
- Willow Springs
Nebraska
- Gering
New Jersey
- Middletown
North Carolina
- Wilmington — two locations, on Greenfield Street and Carolina Beach Road
Ohio
- East Liverpool: 15 Walnut St
- West Dayton: 440 N James H McGee Blvd
South Carolina
- Clearwater: 4403 Jefferson Davis Highway
Virginia
- Lynchburg — two stores on Campbell Ave and Federal Street
West Virginia
- Elkins
This announcement comes after the Dollar Tree company announced it was closing about 600 Family Dollar stores this year across the United States and another 370 stores over the next several years due to the chain’s dwindling value.
In addition to Family Dollar, the company will also permanently close 30 Dollar Tree locations in the coming years.
Despite Family Dollar foot traffic slightly increasing 0.7% last fiscal year, the discount store’s sales overall decreased 1.2% in stores that were open for at least a year, which led to the idea to close several stores.
