Minor setback for a major comebackDollar Tree Inc. plans to shut as many as 390 Family Dollar stores this year as part of an ongoing turnaround program for the banner, which has struggled since being acquired for $8.5 billion in July 2015.
Dollar Tree aims to renovate about 1,000 Family Dollar stores in 2019 under a plan unveiled at the end of November. The program includes the installation of adult beverages in about 1,000 stores and expansion of freezers and coolers in roughly 400 stores. Price-impact sections, including $1 Dollar Tree merchandise assortments, also are being added to Family Dollar locations.
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