Dollar Tree Looks To Close Over 300 Locations How Does It Affect New Jersey?

Dollar Tree Looks To Close Over 300 Locations

When was the last time you were in a Dollar Tree? Probably not that long ago. You probably have one in your neighborhood that is your "go-to" Dollar Tree. This chain has become a very popular store and has a big following.

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I will say it has become a bit confusing when shopping because first, they raised prices to $1.25 (there is hardly anything that is a dollar; maybe greeting cards, 2 for $1.00?). Then they added $3 items and now $5 items, so make sure you check prices before you go to check out, because what used to be a few dollars can become $50 really quickly.

According to an article from Style On Main, "Dollar Tree and Family Dollar announced back in March 2024 that they would close a combined 1,000 locations. This is one of the most significant retail closures in recent history. This massive restructuring includes 370 Family Dollar stores and 600 Dollar Tree stores." In addition, they added, "These closures will have a far-reaching impact, extending to the accessibility of affordable groceries, beauty products, and fashion accessories for many communities."

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The article cited that part of the equation is that Family Dollar is underperforming while Dollar Tree continues to be in the black. "Dollar Tree stores have seen over a 6% increase in same-store sales. However, Family Dollar has seen a 1.2% decline. This showcases that the acquisition of Family Dollar ten years ago has become a fundamental issue, with the parent company struggling to turn around the underperforming subsidiary."

In March, Dollar Tree sold Family Dollar, and now Dollar Tree hopes to get back to what it was originally. Will we ever see $1 price tags again? That would be nice, but who knows?

No word on stores closing here in New Jersey, at this time. We will keep our eyes out for future updates.