Popular Discount Retailer With More than 790 California Locations Plans Surprise Closure

While the company enjoyed a surge in shoppers during the holiday season Q4, 2023 wasn’t a great year for its portfolio of brands. They’ll add their name to the list of brands closing underperforming stores in 2024.

That list seems to be getting larger by the minute. Bankrupt pharmacy chain, Rite-Aid, Bloomin’ Brands (the parent company of Outback Steakhouse and Bonefish Grill,) Walgreens and Macy’s have all announced that they’ll be closing multiple underperforming stores this year. There’s also a strong possibility that craft giant Joann will file bankruptcy sometime in 2024, which would likely lead to the liquidation of at least some of their stores. 

Dollar Tree and Family Dollar Plan Mass Closure

It looks like Dollar Tree and Family Dollar will be the latest retailer to cut locations. Dollar Tree, Inc. owns both retail chains and announced the closure of at least 1,000 of their underperforming stores in a recap of their fourth quarter results. According to the release, the parent company will shutter 600 Family Dollar stores in the first half of the fiscal 2024. After that, they’ll cut 370 more Family Dollar and 30 Dollar Tree stores as their leases expire. 

READ MORE: 9 Big Brands That Are Closing California Stores in 2024

ScrapeHero estimates that there are more than 650 Dollar Tree locations in California. We also counted an additional 138 Family Dollar locations. By our count Dollar Tree has just over 40 stores in Idaho, including one that recently opened in the former Tuesday Morning store on Milwaukee in Boise. They own almost 60 Family Dollar locations in Idaho. 

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While Dollar Tree hasn’t released a list of the locations affected yet, we did find an active listing for the Dollar Tree location at 6259 N Linder in Meridian. The store’s lease doesn’t expire in June 2027. BoiseDev reports that the location at State and Collister unexpectedly closed for good at the end of April.

CBS News talked to an expert from GlobalData who believes Family Dollar will exit markets where they don’t see a clear path to beat competitors like Walmart and Dollar General.