Dollar Tree to close nearly a thousand U.S. stores

Chesapeake, Va.-based Dollar Tree will close a thousand of its stores south of the border in the next few years, the company announced last week. It will close 600 stores under the Family Dollar banner, which it acquired in 2015, in the first half of this year, plus 370 of that brand’s stores over the next few years. For the quarter ending Feb. 3, Dollar Tree lost US$1.71 billion, or US$7.85 a share. Retail analysts have blamed the botched acquisition of Family Dollar for the losses. There are about 227 Dollar Tree stores in Canada, not one of which the company says is being closed at this time. Dollar Tree operates more than 15,000 stores in North America.