Dollar Tree Closing 1,000 Family Dollar Stores As Inflation Erodes Sales

Dollar Tree is closing about 1,000 Family Dollar stores (15% of locations) due to shoplifting and inflation hurting low-income shoppers.

Customers are spending less and shopping around more for bargains amid high inflation.

Cuts to food stamps/SNAP benefits have drained dollars from customers' wallets.

Family Dollar has struggled to build a loyal customer base and has had problems like rat-infested warehouses.

Dollar Tree plans to add new $1.50-$7 items in stores this year while keeping most at $1.25 price point.