Dollar Tree’s recent announcement regarding the closure of 600 Family Dollar store locations in 2024 has sent ripples through the retail industry. This move, combined with plans to close an additional 370 Family Dollar stores and 30 Dollar Tree locations upon lease expiration over the next few years, represents a significant reduction of about 15% of its Family Dollar branches.
The Reasons Behind the Closures
- Economic Challenges: The primary factor driving these closures is the economic strain on low-income shoppers, a key demographic for Family Dollar. The rising tide of inflation has left many consumers with thinner wallets, prompting a shift towards price comparison and bargain hunting across various retailers.
- Increased Competition: As shoppers become more price-sensitive, Family Dollar faces stiff competition from other discount and bulk retailers. This shift in consumer behavior has significantly impacted the company’s sales figures.
- Shoplifting Issues: An uptick in shoplifting incidents has also eroded the bottom line. The retailer has pointed to this as a contributing factor to its decision to shutter a number of locations.
Community Impact
The closure of Family Dollar stores is more than a corporate decision; it has real implications for the communities they serve.
According to Dominick Miserandino of RetailWire, these stores often represent the only retail option in certain areas, providing both jobs and essential goods to local residents.
“These communities are dependent on these stores,” Miserandino emphasized to CBS News. The loss of Family Dollar could leave a void that would be hard to fill, affecting both employment and access to affordable goods.
Corporate Strategy
Dollar Tree’s acquisition of Family Dollar for over $8 billion nearly a decade ago was a strategic move to expand its footprint in the discount retail market.
However, the decision to close stores follows a “comprehensive review of our store portfolio,” according to a company email to CBS MoneyWatch. This review aimed to identify underperforming locations and reinvest resources into improving store standards and promoting growth. Despite the closures, the company has not released a comprehensive list of affected stores.
Family Dollar closing list 2024
The announcement has led to a flurry of local media reports on specific closures, with many stores offering significant discounts of up to 50% off to clear inventory.
Among the known closures are locations in Alabama, Florida, Illinois, Kansas, Mississippi, Missouri, Nebraska, New Jersey, North Carolina, Ohio, South Carolina, Virginia, and West Virginia. These closures, listed with specific addresses and closing sales, reflect the broad impact of the company’s decision across the United States.
According to information published by CBS News, these are the stores that will be closed:
Alabama
- Slocomb, Alabama: Family Dollar at 534 Lawrence St., closure date not set yet (WDHN).
Florida
- Tallahassee, Florida: Family Dollar on West Brevard Street is closing, other stores remain open (Tallahassee Democrat).
Illinois
- Peoria, Illinois: Two Family Dollar stores closing, “everything must be sold” (Peoria Journal Star).
Kansas
- Wichita, Kansas: Family Dollar at 13th Street and Broadway is closing (KSN News).
Mississippi
- Canton: 1074 Peace St.
- Clinton: 222 Clinton Blvd.
- Collins: 816 Main St.
- Columbus: 202 Alabama St. and 60 Mike Parra Rd.
- De Kalb: 14916 Hwy. 16 W.
- Drew: 144 W. Park Ave.
- Durant: 369 E. Madison St.
- Eupora: 1960 Veteran’s Memorial Blvd.
- Flora: 101 Mansker Dr.
- Jackson: 3707 S. Siwell Rd. and 1201 University Blvd.
- Louisville: 401 S. Church Ave.
- Monticello: 713 E. Broad St.
- Natchez: 395 John R. Junkin Dr.
- Newton: 188 Northside Dr.
- Okolona: 511 W. Monroe Ave.
- Pearl: 621 S. Pearson Rd. and 3123 U. S. Hwy. 80
- Philadelphia: 800 E. Main St.
- Quitman: 548 S. Archusa Ave.
- Raymond: 825 E. Main St. (Magnolia State Live).
Missouri
- Humansville, Missouri: Family Dollar closing, customers directed to nearby locations (KY3).
- Willow Springs, Missouri: Store closing, merchandise discounted up to 90% (Howell County News).
Nebraska
- Gering, Nebraska: Items selling for 50% off, store closing (KNEB).
New Jersey
- Middletown, New Jersey: Family Dollar at Eastpointe shopping center is closing (Asbury Park Press).
North Carolina
- Wilmington, North Carolina: Two locations on Greenfield Street and Carolina Beach Road are closing (WECT6).
Ohio
- East Liverpool, Ohio: Family Dollar at 15 Walnut St. is closing on April 17, items for 50% off (The Review).
- West Dayton, Ohio: Family Dollar at 440 N. James H. McGee Blvd. is closing (Dayton Daily News).
South Carolina
- Clearwater, South Carolina: Location at 4403 Jefferson Davis Highway offering items at 50% off before closing (WRDW.com).
Virginia
- Lynchburg, Virginia: Two stores on Campbell Avenue and Federal Street are closing (WSET).
West Virginia
- Elkins, West Virginia: Store offering 50% off, closing once merchandise is sold (the Inter-Mountain newspaper).
