Dollar Tree’s turnaround plans for its Family Dollar business seem to be paying off, as the retailer reported improved results for its second quarter.
A Coresight Research Insight Report asserts that major retailers in the U.S. have announced 7,567 store closures so far this year compared with 5,524 stores all of last year, but it isn’t all bad news.
Celebrating its 80th year in business, Dollar General started out strong in the first quarter with both sales and earnings growth.
Activist investor Starboard Value, which has pushed for changes at Dollar Tree, has decided to withdraw its slate of nominees for election to Dollar Tree’s board of directors at the 2019 annual meeting of shareholders.
Dollar Tree reported solid sales in its fourth quarter, while ramping up its Family Dollar integration and turnaround plans, which includes store closings this year.
Dollar Tree is planning a new distribution center project in Rosenberg, Fort Bend County, TX.
Dollar stores are seeing growth in shopper traffic during the holiday season with shoppers from higher income levels driving the growth, according to a recent survey from The NPD Group.
Dollar Tree has appointed Thomas Dickson as a new independent director to the company’s board, effective January 1, 2019. Dickson’s appointment is to fill the vacancy created by the previously announced retirement of Mary Anne Citrino as a director.
As it continues to expand and open more stores beyond its rural community base, Dollar General is eyeing a new urban store concept dubbed DGX, according to a recent Bloomberg article.
Dollar Tree, as part of its continuing integration of Family Dollar’s organization and support functions, plans to consolidate its store support centers in Matthews, North Carolina and Chesapeake, Virginia, to the company’s newly-completed office tower in the Summit Pointe development in Chesapeake.