Dollar Tree To Close Nearly 400 Stores
If you ever wondered "How do dollar stores last by selling products for $1?" Rest assured, they aren't.
CNBC reports that Dollar Tree will be closing close to 400 stores and renovating about 1,000 others. The mass closures come after a $2.3 billion loss. To be specific, Dollar Tree will be closing 390 stores.
According to CNBC, Dollar Tree took the $2.3 billion loss on its Family Dollar stores, another discount store that is not everything for $1. 200 Family Dollar stores will be rebranded to Dollar Tree stores. The 400 stores that are getting renovated will get expanded freezer and cooler sections.
Dollar Tree closing stores come after multiple Hudson Valley retailers announcing store closures. Charlotte Russe will be closing all stores, Abercrombie is closing stores across the country, and three other major retailers are suffering from online shopping.