Family Dollar to Close 1,000 Stores Amid Rising Costs, Stiff Competition

• Family Dollar will close nearly 1,000 stores due to years of mismanagement, poor store conditions, high inflation hurting its low-income customer base, and stiffer competition • Persistent inflation and reduced government benefits have squeezed Family Dollar's core low-income shoppers • Family Dollar stores often have cleanliness and staffing issues compared to rivals like Dollar General • Family Dollar was recently fined over $40 million for a rat infestation at a distribution warehouse • Rival Dollar General is growing rapidly with about 1,000 new stores per year, while Family Dollar loses ground on pricing and store experience