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Family Dollar to close 400 stores

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Family Dollar will close nearly 400 stores this year while renovating 1,000 other locations, the company announced Wednesday, March 6. Family Dollar is operated by Dollar Tree.

“We are confident we are taking the appropriate steps to reposition our Family Dollar brand for increasing profitability as business initiatives gain traction in the back half of fiscal 2019,” Dollar Tree CEO Gary Philbin said in a news release.

The press release continued 390 Dollar Trees will close. Some of the renovated stores will sell alcohol and include a section featuring $1 Dollar Tree merchandise, as well as expanded freezer sections.

About 200 Family Dollar locations will be rebranded as Dollar Trees. Dollar Tree had already closed 84 Family Dollar locations in the last quarter of the year. There are more than 8,000 Family Dollar locations in the U.S.

A list of the stores slated for closure was not provided. Red Oak has a Family Dollar location.