Discount chain Family Dollar is making big changes in the coming months.
The chain announced it's closing as many as 390 underperforming stores this year. The total number of stores closing may change depending on the company’s ability to achieve material rent concessions from landlords.
"Without such concessions, the Company expects to accelerate its pace of store closings to as many as 390 stores in fiscal 2019," said a news release sent out Wednesday morning.
Dollar Tree, Inc. operates both the Dollar Tree and Family Dollar brands. Family Dollar also plans to renovate 1,000 stores in 2019.
"The Company plans to open 350 new Dollar Tree and 200 new Family Dollar stores, as well as re-bannering an additional 200 Family Dollar stores to Dollar Tree stores," said the release.
The company had 15,237 stores in 48 states and five Canadian provinces as of Feb. 2 according to the Associated Press.
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