Family Dollar to Close 370 Stores, Cut Jobs
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Family Dollar Stores Inc., facing an increase in retail competition, is closing about 370 stores and conducting a review to improve its business.
The closings, about 4.6 percent of the company’s 8,100 locations, will generate as much as $45 million in annual cost savings beginning in the fiscal third quarter, the Matthews, North Carolina-based company said today in a statement. The review includes cutting an unspecified number of jobs, lowering prices on about 1,000 items and slowing new store growth.