Family Dollar says it will be cutting jobs and closing about 370 underperforming stores as it looks for ways to improve its financial performance. It says it will also cut prices on about 1,000 basic items.
The announcement came as Family Dollar reported its profit and revenue declined in the second quarter as it dealt with bad winter weather.
The discounter said the store closings and job cuts should lower annual operating expenses by $40 million to $45 million, starting with the fiscal third quarter. Family Dollar Stores Inc. currently has more than 8,100 stores in 46 states.
The Matthews, N.C., company says it will also slow new store openings beginning in fiscal 2015 to bolster its return on investment.
Most Popular Today
Sioux City Riverboat Casino Prepares For Last Day
Keller Williams To Acquire Another Real Estate Firm
Keller Williams Acquiring HJN
Keller Williams Buys Out HJN Realty
- 5.Development, Events Center
New Developments Near Events Center Taking Shape
Debt And The Midwest
Census Estimates Sioux Falls Population Nearing 165,000
Main Avenue Diet Helping Grow Business
- 9.Health Care
ND Hospital, National Nonprofit Talk Affiliation
- 10.Development, Events Center
Russell Street Construction Nearing Completion