Family Dollar plans to close nearly 400 stores, rebrand others

National
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HOLLYWOOD, FL – JULY 28: A Family Dollar store is seen on July 28, 2014 in Hollywood, Florida. Dollar Tree announced it will buy Family Dollar Stores for about $8.5 billion in cash and stock. (Photo by Joe Raedle/Getty Images)

Discount store Dollar Tree announced it will be closing up to 390 underperforming stores across the country.

The company says it plans to open 350 new Dollar Tree and 200 new Family Dollar stores. It also plans to rebrand an additional 200 Family Dollar stores to Dollar Tree stores.

“We are confident in our progress and we have good momentum. 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,” Gary Philbin , President and Chief Executive Officer, said.

No word on what stores will be closing.

Dollar Tree acquired Family Dollar in 2015.

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