Dollar Tree to Close Over 1,000 Stores Amid Economic Challenges

Inflation and shoplifting woes force discount retailers to shutter locations and rethink strategies.

Dollar Tree announces the closure of approximately 1,000 Family Dollar stores and 30 Dollar Tree-branded stores due to inflation and cuts to food stamps affecting their low-income customer base.
Shoplifting and the need for bargain hunting have escalated, prompting Dollar Tree to experiment with a broader price range, introducing items up to $7.
Dollar General reduces self-checkout to combat high theft rates and plans to open 800 new stores, indicating a stronger performance compared to its rivals.
Persistent inflation has led to a decrease in discretionary spending among low-income Americans, impacting the sales and stock prices of discount stores.
Family Dollar struggles with maintaining customer loyalty amidst operational challenges, including a rat-infested warehouse, leading to a significant number of store closures.