When last we checked in with Dollar Tree Inc. and its Family Dollar challenges, we reported that Dollar Tree seemed poised and very much needed to get serious about the issue given the extent of the problem and the heat that was on from investors.
Last Wednesday, as part of its Q4 earnings release, the company laid out its plans, which are significant. After shuttering 84 stores in the fourth quarter, the company will close 390 additional underperforming locations, re-banner 200 Family Dollars to Dollar Tree and renovate 1,000 Family Dollar locations in 2019. All told, these changes will touch nearly 20% of the Family Dollar portfolio in the coming year.
Same store sales figures should get an immediate boost from the closings, and according to the company, the new Family Dollar store format that will be used for remodels (and new builds) has increased sales by more than 10% in tests.
Whether it’s sales leads, store counts or locations data, Chain Store Guide has the discount world covered.