Dollar Tree will shutter 1,000 Family Dollar and Dollar Tree stores across the country, the company reported in its 2023 fourth-quarter earnings report on March 13.

The first round of closures: 600 Family Dollar stores in the first half of 2024.

Dollar Tree’s next round of closures: 370 Family Dollar stores and 30 Dollar Tree stores over the next several years.

The company has not yet identified the stores at risk of closing, saying only that closures will occur as leases expire.

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Colorado consumers could also see Dollar Tree stores relocate or be renamed and operate another banner as a part of the company’s performance review.

Dollar Tree has more than 200 stores in Colorado and 15,237 across the country and in Canada.

Family Dollar has 8,459 locations, with 126 in Colorado.

Recently, CEO Rick Dreiling said, “accumulating pressures of inflation, reduced government benefits, and depleted savings have negatively affected lower-income consumers,” which Dollar Tree focuses on serving with its two retail chains.

Still, the company reports that it has grown more than competitors in the discount store space.

dollar tree in windsor, colorado
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Is it even the Dollar Tree even a dollar store anymore?

Dollar Tree shifted from its dollar-a-product fixed-price model in 2021. At the time, the company said this would allow it to reintroduce discontinued products and expand its offerings.

The $1 price point increased to $1.25 in 2022.

Dollar Tree’s CEO said Wednesday, March 13, that the “multi-price rollout” will continue.

About 5,000 stores including those in Windsor and Loveland, Colorado, include $3 and $5 products, according to the earnings press release. Meanwhile, the company continues to grow its food sales, too, with $3, $4 and $5 frozen and refrigerated items at more than 6,500 Dollar Tree stores.

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