(Gray News) – Big changes are coming to Family Dollar.
The discount chain announced Wednesday that it will close as many as 390 stores this year and make other big changes to turn operations around.
“We are confident we are taking the appropriate steps to reposition our Family Dollar brand,” Dollar Tree CEO Gary Philbin said in a news release. “Approximately 200 Family Dollar stores will be re-bannered to Dollar Tree ...”
Dollar Tree, Inc. operates both the Dollar Tree and Family Dollar brands.
Philbin said the chains are trying to navigate a changing retail landscape after the Trump administation imposed tariffs on imported goods.
“Our merchants at both banners have delivered a 2019 plan that we believe overcomes most of the effect of tariffs at the 25% level, and provides opportunity for margin improvements if tariffs are not increased,” he said.
Family Dollar has plans to renovate at least 1,000 stores in 2019.
The company had 15,237 stores in 48 states and five Canadian provinces as of Feb. 2, according to the Associated Press.