By Mary C. Hunt
Dollar Tree, the parent company of Family Dollar, announced a program to re-banner approximately 200 Family Dollar stores to the Dollar Tree banner in 2019 and to potentially close as many as 390 Family Dollar stores.
Dollar Tree has not released a list of Family Dollar stores to be re-branded or possibly closed, but there is also no reason to expect that the Martin store might close.
In its March 6, 2019 Fourth Quarter and Fiscal Year 2018 financial report, Dollar Tree laid out a general plan for its 2019 Store Optimization Program.
According to the Dollar Tree press release, the Company closed 84 under-performing Family Dollar stores in the fourth quarter — closing 37 more than originally planned for the year. In fiscal 2019, the Company is seeking to obtain material rent concessions from landlords on under-performing stores. Without such concessions, the Company expects to accelerate its pace of store closings to as many as 390 Family Dollar stores in fiscal 2019 (compared to the banner’s normal annual closing cadence of approximately 75 stores).
Dollar Tree, a Fortune 200 Company, operated 15,237 stores across 48 states and five Canadian provinces as of February 2, 2019. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar TreeCanada. It began the acquisition of Family Dollar in July 2014 and completed it one year later.