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Dollar Tree Reducing Operating Costs

06/02/2024

According to press reports, Dollar Tree has terminated over 50 corporate employees to reduce costs.  The company intends to close 1,000 stores during fiscal 2024 including 600 underperforming Family Dollar locations.  Dollar Tree reported a net loss of $1.7 billion for the fourth quarter of fiscal 2013 ending in March. The loss of $998 million in FY 2023 included a $594 million charge following a review of individual stores plus a reduction in goodwill and intangibles amounting to close to 12 percent of asset value.

A report on the most recently completed quarter is posted in this edition.