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Family Dollar to close 370 stores

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Posted at 10:19 AM, Apr 10, 2014
and last updated 2014-04-10 12:19:40-04

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 fox13now.com for updates.

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