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Dollar Tree to close 75 stores and improve underperforming locations
The retailer said 42% of stores were below its standards at Investor Day, later indicating that share has fallen to less than one-third.
Dollar Tree plans to close 75 stores and is acknowledging that many of its locations are “substandard,” as it pursues operational improvements, according to Yahoo Finance.
In a discussion tied to the chain’s Investor Day and first-quarter earnings call, Truist Securities asked about progress on store-standard initiatives, focusing on how a large portion of stores fell short by the company’s own metrics.
Yahoo Finance reported that Dollar Tree clarified the earlier benchmark by saying the 42% figure it shared at Investor Day reflected stores below standards, and that the proportion was later less than one-third, though the company said it was not yet where it wants to be.
The report also notes that store upgrades are a large effort for Dollar Tree, given its scale of roughly 9,400 stores, and frames the move as a shift toward fixing the “product,” meaning the stores themselves.