Dollar Tree to close up to 390 Family Dollar stores



Posted by Ed 3 mths ago
NEW YORK (AP) — Dollar Tree Inc. is closing up to 390 Family Dollar stores this year and rebranding about 200 others under the Dollar Tree name.

The company also slashed the value of its struggling Family Dollar chain, booking a $2.73 billion charge in its fiscal fourth quarter. That led to a massive loss in the latest fiscal fourth quarter.

The company closed 84 Family Dollar stores in the fourth quarter, 37 more than originally planned.

I guess all those people who used to shop here are doing so well (because the economy is - we are told - booming) that they are eschewing the Dollar Tree and opting for Bloomingdales....


Ed 3 mths ago
Deadbeat Nation? 37 Million Credit Cards Were 90 Days Past Due In 4Q18

As those who follow our monthly consumer credit updates already knew, aggregate household debt balances jumped in 4Q18 for the 18th consecutive quarter, and were $869 billion (6.9%) above the previous peak (3Q08) of $12.68 trillion. As of late December, total household indebtedness was at a staggering $13.54 trillion, $32 billion higher than 3Q18. Overall household debt is now 21.4% above the 2Q 2013 trough, according to quarterly data from the Fed.

Ed 3 mths ago
Worst February sales in a decade make depressing reading for high street retailers

Britain's high street retailers suffered their worst February sales figures in a decade, down 3.7% from February 2018.

This latest blow comes from the BDO's High Street Sales Tracker, despite periods of unusually warm weather around Valentines Day and the half-term holidays.

In fact, BDO said that the third week of February gained no overall benefit from Valentine's Day, while half-term saw sales down by 0.7% in many areas.

Lifestyle retailers endured a torrid month, resulting in their worst February on record with a drop of 4.9% on last year.

Not faring much better were in-store fashion sales, which also sunk by 3.5% - the category's worst performance in February since 2009.

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