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Family Dollar to Cut Jobs, Close Stores

Company also plans to lower prices on 1,000 items.

Family Dollar Stores plan to reduce its workforce, close stores. Patch File Photo
Family Dollar Stores plan to reduce its workforce, close stores. Patch File Photo

By Liz Taurasi

On the heels of a second quarter earnings announcement, Family Dollar stores officials say they are taking immediate steps to improve company performance which includes shuttering stores and cutting jobs.

The company announced Thursday morning they plan to close approximately 370 underperforming stores. Additionally, Family Dollar will reduce its workforce, and lower prices on 1,000 basic items the stores keep in stock. They also plan to slow down new store openings.

The company has not said which stores are closing.

The 54-year-old North Carolina based company has more than 8,100 stores in 46 states throughout the country.

“Once complete, our workforce reduction efforts and store closures are expected to result in $40 million to $45 million of annualized operating profit benefit, beginning in the third quarter of fiscal 2014,” said Family Dollar Stores Chairman and CEO Howard R. Levine in a statement. “We are confident that these steps will position Family Dollar to deliver stronger returns for our shareholders.”
Karen Walz April 11, 2014 at 12:27 PM
Family Dollar is a business with HQ in North Carolina. It's a corporate name, a "brand," not a Mom n' Pop, so there won't be any name change.
CB11 April 11, 2014 at 01:03 PM
I think the name is meant to imply that shopping there can stretch the "Family Dollar"
Karen Walz April 11, 2014 at 01:35 PM
FWIW, I agree!
Matthew April 11, 2014 at 03:52 PM
Paul......So, did you actually read my comment? It's not a junk store. It's sells food, and everyday products. Even pet foods. So, like I said. It must be nice being rich, and not caring where your money goes. That's half the problem with America. People with any kind of money, could give a crap less about the people with not so much money. Yet. When there's an overseas tragedy, you people are right there with your check books to make a donation because it boosts your yuppy ego, and makes you think that your better than everyone else. So answer me a question Paul? When you go into a store and the product that you want to buy is, say, only .99cents? Do you not buy it, because you'd ratehr pay more for it somewhere else? Just to make you feel superior to the other person that pays .99cents for it? Please. You make no sense.
J. Parker April 11, 2014 at 04:14 PM
Oh No ! I hope it won't be the Burlington/Lexington store ! Some fo the household products are brand names and worth the 'dollar'.

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