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Family Dollar to close 370 stores

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MATTHEWS, N.C. — A financial report released Thursday reveals a plan by Family Dollar executives to close 370 underperforming stores.

Family Dollar CEO Howard R. Levine stated in the report that the company will also “lower prices on 1,000 basic items” and “[reduce] cost structure through the optimization of our workforce.”

“The 2013 holiday season was challenged by a more promotional competitive environment and a more financially constrained consumer,” Levine said. “In addition, like many retailers, our second quarter results were significantly impacted by severe winter weather, which resulted in numerous store closings, disrupted merchandise deliveries and higher than expected utility and store maintenance expenses.”

FOX 13 has reached out to Family Dollar to find out which Utah stores, if any, may be affected by the closures. Watch FOX 13 News and for updates.

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1 Comment

  • Silas

    Just the way Levine worded that irritates me and just downright burns me.

    So what Family Dollar is really saying, because customers don’t want to pay high prices for merchandise that they can EASILY get cheaper elsewhere, we are forced to close stores.

    Good, never forget that there is ALWAYS competition that is driving to get your customers with lowers prices and better products. In my opinion it’s outrageous to think that you don’t have to be competetive and you will survive no matter what.

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