Family Dollar will close 390 stores this year — one of many big changes the discount retailer hopes will help reverse its fortunes. The chain courts low-income shoppers with an array of items sold for under $10 at its more than 8,000 stores. It is owned by the Dollar Tree, which operates an eponymous chain of 7,000 other stores in suburban areas. Dollar Tree stores cater to customers who make more than Family Dollar customers do, but all of their products sell for only $1. Dollar Tree bought Family Dollar in 2015 for $8.5 billion. The combined company hoped that by joining forces, it could grow its customer base, reduce costs and fend off bigger retailers like Dollar General (DG) and Walmart (WMT). But Family Dollar has struggled and Dollar Tree's (DLTR)stock price has slipped since the deal. An activist investor heavily pressured the company earlier this year to dump the ailing Family Dollar line and start selling Dollar Tree merchandise for higher prices. Read more https://www.cnn.com/2019/03/06/investing/family-dollar-stores/index.html
