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Wed Mar 6, 2019, 01:12 PM

just read on CNN Family Dollars is closing close to 400 stores

so much for winning, Auto plants closing, trade deficit hit record high, deficit ballooning
good times

https://www.cnn.com/2019/03/06/investing/family-dollar-stores/index.html

"Family Dollar will close nearly 400 stores this year on top of the more than 120 it closed in 2018. It will also re-brand around 200 stores as Dollar Tree this year.
Other Family Dollars will keep the name, but will be stacked with $1 Dollar Tree merchandise and liquor sections. Family Dollar says the new store model will lift traffic and sales, especially in areas where they have slumped.
"We are confident we are taking the appropriate steps to reposition our Family Dollar brand," Dollar Tree CEO Gary Philbin said in a news release Wednesday. In the wake of Starboard's criticism, Dollar Tree also will begin testing higher-priced products at its stores.
The dollar and discount segments of retail have become hyper competitive in recent years as more Americans hunt for bargains on everything from groceries to electronics. Despite the growing economy, many Americans living paycheck to paycheck continue to struggle, creating more room for dollar stores to expand.
"The dollar store sector will remain one of the bright spots in retail," said Mickey Chadha, analyst at Moody's."

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Arrow 22 replies Author Time Post
Reply just read on CNN Family Dollars is closing close to 400 stores (Original post)
gabeana Mar 6 OP
jcgoldie Mar 6 #1
dubyadiprecession Mar 6 #8
smirkymonkey Mar 6 #2
niyad Mar 6 #3
htuttle Mar 6 #4
shanti Mar 6 #5
Sherman A1 Mar 6 #6
TexasBushwhacker Mar 6 #16
babylonsister Mar 6 #7
underpants Mar 6 #9
cbdo2007 Mar 6 #10
wishstar Mar 6 #11
Yo_Mama_Been_Loggin Mar 6 #12
Alea Mar 6 #13
DAMANgoldberg Mar 6 #14
Alea Mar 7 #19
DAMANgoldberg Mar 7 #20
JI7 Mar 6 #15
Sherman A1 Mar 7 #22
jcmaine72 Mar 6 #17
D_Master81 Mar 6 #18
allgood33 Mar 7 #21

Response to gabeana (Original post)

Wed Mar 6, 2019, 01:14 PM

1. Another sign of the "economic miracle"

So much winning.

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Response to jcgoldie (Reply #1)

Wed Mar 6, 2019, 02:06 PM

8. Im Getting tired of winning!

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Response to gabeana (Original post)

Wed Mar 6, 2019, 01:19 PM

2. K&R

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Response to gabeana (Original post)

Wed Mar 6, 2019, 01:20 PM

3. the one in my neighborhood has been closed for a year.

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Response to gabeana (Original post)

Wed Mar 6, 2019, 01:32 PM

4. #WINNING

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Response to gabeana (Original post)

Wed Mar 6, 2019, 01:39 PM

5. We could see this coming

with the increased tariffs on China. Dollar Tree, 99 Cent store, same difference. 3/4 of their merch is from China.

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Response to gabeana (Original post)

Wed Mar 6, 2019, 01:54 PM

6. While I am sad about the job losses

The market for these is oversaturated and some shakeout was inevitable.

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Response to Sherman A1 (Reply #6)

Wed Mar 6, 2019, 10:51 PM

16. I agree

Thet were all competing for that same niche, and their profit margins are paper thin; even worse than Walmart's, and it's bad as well. They really take advantage of their employees too. Starting pay is $7.25 an hour and if they work their way up to Asst Mgr, they pay them a salary of $25 to $30K but expect them to work 60 hours a week with no OT pay. That translates to around $8 an hour plus OT.

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Response to gabeana (Original post)

Wed Mar 6, 2019, 02:01 PM

7. I think they built too many of them.

They were all over the place in GA.

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Response to babylonsister (Reply #7)

Wed Mar 6, 2019, 02:14 PM

9. Virginia too n/t

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Response to gabeana (Original post)

Wed Mar 6, 2019, 02:31 PM

10. We love Dollar Tree in our area...

and can't believe the things they have for the prices. They have the same bread you get at the supermarket for $4 per loaf there for $1. they have the sunday paper which is $2.50 everywhere else for $1.

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Response to gabeana (Original post)

Wed Mar 6, 2019, 02:59 PM

11. Sign of the times that they are transitioning more of them to be the cheaper Dollar Trees

In my area, customers have shifted from the higher priced Dollar Gen. and Fam. Dollar to new Dollar Trees although I noticed that they did open a new Family Dollar on the other side of town that has big $1 WOW signs on front. There is no Walmart or Kmart on that side of town so Family Dollar would appeal to people looking for electronics and apparel and appliances not sold at Dollar Trees.

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Response to gabeana (Original post)

Wed Mar 6, 2019, 03:47 PM

12. MAGA!!

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Response to gabeana (Original post)

Wed Mar 6, 2019, 04:59 PM

13. They did it to themselves

And long before trump. Every one in this area, Auburn, Al, closed years ago. They were all crappy ramshackle stores that no one wanted to shop at. I think Dollar General killed off the last of them. Great stores. I do most of my basic shopping at Dollar General. All Family Dollar had to do was change their model and keep up.

I've never been to a Dollar Tree but maybe that will save them. They need to look at what Dollar General is doing and mimic that business model. One thing I like is that they are everywhere. You can't drive 10 miles without passing one. I can do 90% of my shopping at DG and only go to a larger store like walmart or publix/kroger/albertsons for certain items. Mainly meats or prescriptions drugs.

Family Dollar could have made it. They just decided to run their stores into the ground instead.

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Response to Alea (Reply #13)

Wed Mar 6, 2019, 10:41 PM

14. Family Dollar did it to themselves...

OT BTW, I do remember when Family Dollar was both in Auburn and Opelika when I was in school there Oh well.

Ever since the Levine family, who started and grew Family Dollar here, ended up selling out, the chain has gone way downhill. It could very well be that, for example, there are 4 FD locations within 4 miles of where I live in Northwest Charlotte. This may not be a great example because of history with the company here, but that is clearly too many in that spot. I fully expect at least 2 of them to close. The problem is that FD is already cheap and for the most part, not worth buying. Since the idea is to go down to Dollar Tree levels is absurd.

Dollar General is better, but they're an interloper here, so now real change expected.

PS reported in the Charlotte Observer, 900 folks down Monroe Rd are about to be expendable. https://www.charlotteobserver.com/news/business/article218588135.html (potential paywall)

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Response to DAMANgoldberg (Reply #14)

Thu Mar 7, 2019, 12:04 AM

19. They were on Undercover Boss last year

I really thought they were making a change for the better. Really a shame to see them go out like this. I have fond memories of Family Dollar when I was a kid. I would really like to know what goes on with a business like this that makes them go under. Do people just get complacent with the name and want something new and different? Is it mismanagement? I see it all the time but never really understand why. All we see locally is declining quality of the stores, and then they close

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Response to Alea (Reply #19)

Thu Mar 7, 2019, 02:38 AM

20. That happened here as well.

When it got out of the control of the founding Levine family, it really spiraled out of control. This can also be said for other local institutions, such as Belk, First Union, Ivey's, and Lance.

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Response to gabeana (Original post)

Wed Mar 6, 2019, 10:49 PM

15. I think one reason Dollar Tree does well is becsuse people go there for crafting

and other Diy projects. and mainly for temporary seasonal type decor .

they also have smaller versions of some branded items.

I have never been to family dollar and don't know if there are any in so cal.

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Response to JI7 (Reply #15)

Thu Mar 7, 2019, 06:19 AM

22. Agreed

I find enough crafting items that it helps stretch the budget and their pack of sandpaper is great for DIY and crafting. I also go there for Greeting Cards which have gotten way, way too expensive.

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Response to gabeana (Original post)

Wed Mar 6, 2019, 10:52 PM

17. He's making us great again!

One multi-store closure and mass dump into the unemployment rolls at a time!

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Response to gabeana (Original post)

Wed Mar 6, 2019, 10:53 PM

18. I think

There's a dollar store in every small town in America. It was a matter of time until they began to have to scale back.

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Response to gabeana (Original post)

Thu Mar 7, 2019, 03:05 AM

21. And don't forget the influx at the border is the highest in 12 years. Instead of curbing

immigration at our sourthern border, Trumps policies seem to have increaded the number of those seeking asylum. Go figure.

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