Inflation, bad economics, and slower consumer spending have hit even the nation’s most affordable retail stores – Family Dollar.
On Wednesday, 13 March Dollar Tree announced its fourth-quarter earnings, and despite the revenue growth over recent months, the company announced that it’s planning on closing nearly 1,000 of its Family Dollar-owned stores.
Back in 2015, Dollar Tree acquired Family Dollar in a $8.5 billion deal in an attempt to create a coup de grace that would challenge nearest discount competitors Dollar General and Walmart.
Unfortunately, Dollar Tree had to learn these lessons the hard way, following the acquisition and the difficulty of having to rebuild the reputation of the downtrodden Family Dollar brand that has been ridiculed with bad publicity and increasing competition within an already slow consumer market.
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