Family Dollar to close nearly 400 stores
KINGMAN – Nearly 400 Family Dollar stores will close in 2019, but the discount retail company is not yet sharing which stores that will or may close, said Kayleigh M. Painter, manager of Investor and Media Relations for Dollar Tree, Inc., which owns Family Dollar.
There are 12 Family Dollar stores in Mohave County, two of which are in Kingman and one in Golden Valley, and four Dollar Tree stores – one in Kingman – in this district.
Dollar Tree corporation is planning to “optimize” its real estate portfolio, she said Wednesday, March 6.
The fiscal year 2019 Family Dollar real estate initiatives include 1,000 store renovations, 200 re-banners (Family Dollar stores becoming Dollar Tree), and closing as many as 390 Family Dollar stores, Painter said. The corporation also plans to open 350 new Dollar Tree and 200 new Family Dollar stores.
This follows Dollar Tree, in the fourth quarter of 2018, opening 143 stores, expanding or relocating 14 stores, and closing 84 Family Dollar stores and 10 Dollar Tree stores, according to its fourth-quarter report. Additionally, the company opened five Dollar Tree stores that were re-bannered from Family Dollar. Retail selling square footage at the end of 2018 was approximately 120.1 million square feet.
“There are several incorrect media reports circling today. … We have not shared a listing of stores that will, or may, close,” said Painter, who did not state when they will release that information.
As of Feb. 2, the company operates 7,001 Dollar Tree stores and 8,236 Family Dollar stores.