Dollar Tree Plans To Close 1,000 Stores After Taking $1.7B Loss

Dollar store operator Dollar Tree reported a net loss of about $1.7B for the three months ended Feb. 3 and said that it will close about 1,000 stores, including about 600 of its Family Dollar locations, in the first half of this year.

Another 370 Family Dollar locations, plus about 30 Dollar Tree stores, will be shuttered as their leases expire in the coming years.

Despite $8.6B in net sales for the fourth quarter, up 11.9% year-over-year, the company was hit with goodwill and intangible asset impairment charges as it conducted a previously announced review of its portfolio, along with the cost of the review itself, which was about $594M, Motley Fool reports.

“Basically, almost ten years on, Dollar Tree is still sifting through the mess it inherited and has not been able to completely turn around,” GlobalData Managing Director Neil Saunders wrote Wednesday, as reported by Axios...
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RSK: Remember, Dollar Tree bought out Family Dollar mso they are shedding those that conflict with each other in certain markets...opportunity here.