Utah locations likely to close as Dollar Tree announces major losses, $7 price tags
A dollar doesn’t go as far as it used to.Dollar stores are raising prices and closing stores.After it bought out Family Dollar, the company behind Dollar Tree Dollar Tree, the company that acquired Family Dollar, has reported significant losses and announced plans to close about 1,000 stores across the country. The company, which set a new base price of $1.25 in its stores three years ago, now plans to sell some items at a cap of $7. There are over a hundred Dollar Tree and Family Dollar stores in Utah. If spread equally nationwide, there may be around 9 or 10 of these stores to close.
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A dollar doesn’t go as far as it used to.
After it bought out Family Dollar, the company behind Dollar Tree has floundered.
In a recent financial report, it admitted in the last three months the company lost $1.7 billion.
At the same time, announcing that about 1,000 stores will close.
Three years ago, Dollar Tree set a new base price of $1.25 in its stores. And now says it will sale some items at a cap of $7.
There are over a hundred Dollar Tree and Family Dollar stores in Utah.
The company hasn’t announced which will close, but if spread equally nationwide we may lose 9 or 10 in Utah.
Most of those would be Family Dollar locations.