Dollar Tree Announces Possible Sale of Family Dollar Stores

Dollar Tree, a discount store chain, announced it is exploring the possibility of selling its brand Family Dollar in a press release issued on June 5. 

“Last year, we announced a comprehensive review of the Family Dollar portfolio, including the planned closure of approximately 970 underperforming Family Dollar stores to focus on enhanced investments in remaining Family Dollar stores that present favorable opportunities for long-term growth and transformation, with more attractive returns on capital. We are already beginning to see progress in this targeted strategy in the streamlined Family Dollar banner," Rick Dreiling, Chairman and Chief Executive Officer of Dollar Tree, Inc. stated. 

Dollar Tree has shut down over 500 stores in the past year. Even before this potential sale was announced, the corporation planned on closing nearly 1,000 stores across the country in an attempt to, “position both the Dollar Tree and Family Dollar banners to progress further and faster,” Dreiling added. 

As of May 2024 the company has 16,397 stores spanning 48 states and five Canadian provinces.