Posted 3/13/2024, 5:45:10 PM
Dollar Tree Gains Ground While Family Dollar Struggles with Rodent Issues and Lower Spending
- Family Dollar banner comp sales declined 1.2% in Q4 as lower-income shoppers spent less; 970 stores slated to close
- In contrast, Dollar Tree banner comp sales rose 6.3% with traffic up 7.1%; gaining higher-income shoppers
- Family Dollar to pay $41.6M criminal fine for selling goods from rodent-infested warehouse
- Dollar Tree expanding multi-price assortment between $1.50-$7 at majority of stores
- Former Dollar General CEO Rick Dreiling leading Dollar Tree turnaround, made "meaningful progress" in 2023
