This week Dollar Tree announce that it will be closing 390 Family Dollar stores in 2019. The news began when Family Dollar tried to revamp their stores last year for better shopping experience. It only made them struggle in sales.
Both stores are known for their dollar deals in selling groceries, home goods, and accessories priced at $1 and usually do not go pass $10. The two stores were competing as a discount chains, in 2015, but now, Dollar Tree bought Family Dollar at $8.5 billion.
Family Dollar issue came when it could not beat the dollar deals at Dollar Tree. That follows the announcement that it will shutdown 400 stores. The company reported a $2.3 billion loss.
Dollar Tree will try to keep business a float, as other retailer price things less than a dollar in their stores. In the meantime, Dollar Tree will continue business where everything is one dollar or less…