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Saturday, April 13, 2024

1,000 Family Dollar, Dollar Tree locations closing

Although the company that operates Family Dollar and Dollar Tree says it will close 1,000 locations across the United States beginning this year, no specific locations have been named yet.

On Wednesday, Dollar Tree, Inc. reported its fourth-quarter earnings and provided a detailed breakdown of the company’s fiscal plans for 2024.

According to the press release, the company says that last year, it initiated a “comprehensive store portfolio optimization review” that helped it identify stores for “closure, relocation, or re-bannering.”

“As a result of this review, we plan on closing approximately 600 Family Dollar stores in the first half of fiscal 2024,” reads the statement.

In addition to the stores closing this year, the company says that an additional 370 Family Dollar and 30 Dollar Tree stores will “close over the next several years” at the end of each store’s current lease term.

The closure will affect around 6% of the company’s total store collection. According to the press release, Dollar Tree, Inc. currently operates approximately 16,774 Family Dollar and Dollar Tree locations across 48 states and five Canadian provinces. Stores operate under the two aforementioned brands and the Dollar Tree Canada brand.

One key piece of information that the Fortune 200 company has not yet released is the list of which stores will be closing.

Currently, there are almost a dozen Family Dollar locations in Ocala, with additional locations in Belleview, Reddick, Williston, Silver Springs, and Marion Oaks. There are also eight Dollar Tree locations in Ocala, with additional locations in Belleview, Dunnellon, and Silver Springs.

Despite the company’s strong presence in the local area, Dollar Tree, Inc. is not the foremost dollar store presence in Ocala.

Dollar General currently operates at least 20 locations across Ocala, not including several others in Silver Springs, Anthony, and Belleview.