Sunday, 26 May, 2019

Family Dollar to close almost 400 stores

Family Dollar Life & Culture Dollar Tree to close as many as 390 Family Dollar stores Posted Mar 6 12:57 PM Family Dollar. By Daniel Urie
Russell Knight | 07 March, 2019, 23:29

The Atlanta Journal Constitution reports that the chain, which is based in Matthews, North Carolina, will close underperforming stores and cut prices on almost 1,000 basic items.

Dollar Tree says it will accelerate its store optimization program in 2019 and now expects to renovate at least 1,000 Family Dollar stores.

"We are confident we are taking the appropriate steps to reposition our Family Dollar brand", Dollar Tree CEO Gary Philbin said in a news release Wednesday.

He added, "Our results demonstrate the increasing strength of the Dollar Tree brand, and accelerated progress on the Family Dollar turnaround, as Family Dollar delivered its strongest quarterly same-store sales growth of the year". That includes roughly 8,000 Family Dollar stores.

Dollar Tree is aiming to "optimize Family Dollar's performance" by closing stores and renovating others while "significantly" improving merchandise offerings.

Family Dollar will close up to 390 stores nationwide in 2019, one of several changes the retailer plans in order to boost its bottom line.

Charlotte Russe to close all of its stores
Founded in 1975 in San Diego, Charlotte Russe was purchased by private equity firm Advent International for $380 million in 2009. The women's fashion retailer filed for bankruptcy last month and said it would liquidate completely if it couldn't find a buyer.

Disney Parks’ Star Wars: Galaxy’s Edge Opening Dates Revealed
And now it looks like we've got some more news about how things will run when this partial land opening occurs later this year. Reservations will be required for Disneyland visitors who plan to visit the Star Wars-themed land from May 31 to June 23.

Trump called his friend and Apple CEO Tim Cook 'Tim Apple'
Perhaps that's why he's unable to fathom the idea that the man who now heads Apple , Tim Cook , isn't actually called Tim Apple . Still, in the pantheon of Trump gaffes, the event is less amusing then when the president spelled his wife's name as "Melanie".

The company opened 143 stores in the fourth quarter, closed 94 and either expanded or relocated another 14.

Activist investor Starboard Value LP has acquired a stake in discount store operator Dollar Tree Inc (DLTR.O) and is asking the company to sell its Family Dollar business, the Wall Street Journal reported on Sunday.

Dollar Tree had 15,237 stores across 48 states and five Canadian provinces as of February 2.

Dollar Tree Inc., based in Chesapeake, Virginia, acquired Family Dollar in 2015 for nearly $9 billion. It shuttered 84 stores late in 2018 and early this year, 37 more than originally planned.

A Dollar Tree spokesman didn't immediately return a message seeking additional information about potential New Jersey closings or new stores. "The Dollar Tree banner has benefitted from combining its purchasing power with Family Dollar". Family Dollar closed 120 stores during 2018. "There are a lot more discretionary purchases made at Dollar Tree, despite the fact all products are a dollar or under".

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