– Jamestown Family Dollar part of national closings

Jamestown (CSi) The Dollar Tree parent Company of Family Dollar stores will close nearly 400 stores nationwide including the Southeast Jamestown location.

The last day of business is May 18, 2019.

Remaining Family Dollar stores will become Dollar Trees, including the renovation of 1,000 locations. Dollar Tree is reported to also open up to 350 new stores in 2019.

In his statement, President and CEO of Dollar Tree, Gary Philbin said “Since the merger, (of Family Dollar and Dollar Tree) we have prepaid $4.3 billion dollars of debt, captured significant synergies in both brands, and fully integrated most systems, functions and departments across banners. By July, we will complete the most important phase: unifying our headquarters under one roof in Virginia.”

Earlier, Dollar Tree closed 122 Family Dollar stores in the fiscal year that ended February 2, as 84 stores closed in the fourth quarter, 37 more than planned.

Previously:

NEW YORK (AP) — Dollar Tree Inc. is closing up to 390 Family Dollar stores this year and rebranding about 200 others under the Dollar Tree name.

The company also slashed the value of its struggling Family Dollar chain, booking a $2.73 billion charge in its fiscal fourth quarter. That led to a massive loss in the latest fiscal fourth quarter.

The company closed 84 Family Dollar stores in the fourth quarter, 37 more than originally planned. The company has said that it will renovate at least 1,000 stores this year. It also said it’s open to testing again new prices at Dollar Tree, where most items are priced at a dollar and nothing over that amount. Family Dollar sells most items for under $10.

A partial list of 143 stores to close by May 2019 shows Jamestown is the only closing thus far in North Dakota.

The list of closing locations shown with impacted zip code is below:

Prichard , Alabama, 36610
Birmingham, Alabama, 35208
Berry, Alabama, 35546
Centreville, Alabama, 35042
Brundidge, Alabama, 36010
Pearce, Arizona, 85625
Mohave Valley, Arizona, 86440
Eloy, Arizona, 85131
Bearden, Arkansas, 71720
West Covina, California, 91790
Fresno, California, 93727
Clovis, California, 93612
Bakersfield, California, 93306
Cathedral City, California, 92234
Compton, California, 90221
New Milford, Connecticut, 6776
Tampa , Florida, 33592
Plant City, Florida, 33563
Homestead, Florida, 33033
Ormond Beach , Florida, 32174
Vero Beach, Florida, 32960
Bristol, Florida, 32321
Altha, Florida, 32421
Alapaha, Georgia, 31622
Doerun, Georgia, 31744
Lenox, Georgia, 31637
Richland, Georgia, 31825
Lilburn, Georgia, 30047
Uvalda, Georgia, 30473
Goreville, Illinois, 62939
Chicago, Illinois, 60652
Greentown, Indiana, 49936
Fairmount, Indiana, 46298
Rockport, Indiana, 47635
Princeton, Indiana, 47670
Topeka, Kansas, 66614
Great Bend, Kansas, 67530
Verona, Kentucky, 41092
Baton Rouge, Louisiana, 70805
Baker, Louisiana, 70714
Arabi, Louisiana, 70032
Lake Arthur, Louisiana, 70549
Oil City, Louisiana, 71061
New Orleans, Louisiana, 70117
Deridder, Louisiana, 70634
Junction City, Louisiana, 71256
Blanchard, Louisiana, 71009
Farmington, Maine, 4938
Bangon , Maine, 49013
Ocean Pines, Maryland, 73669
Ocean City, Maryland, 21842
Port Austin, Michigan, 48467
Twin Lake, Michigan, 49457
Dawson, Minnesota, 56232
Tracy, Minnesota, 56175
Pine River, Minnesota, 56474
Faribault, Minnesota, 55021
Pontotoc, Mississippi, 38863
Long Beach, Mississippi, 39560
Caledonia, Mississippi, 39740
Meridian, Mississippi, 39301
Springfield, Missouri, 65802
Springfield, Missouri, 65804
Marble Hill, Missouri, 63764
St. Louis, Missouri, 63111
Rochester, New Hampshire, 3868
Bridgeton, New Jersey, 8302
Pennsville, New Jersey, 8070
Alamogordo, New Mexico, 88310
San Ysidro, New Mexico, 87053
Velarde, New Mexico, 87582
Cambria Heights, New York, 11411
Brooklyn , New York, 11210
Bronx, New York, 10459
Worcester, New York, 12197
Malone, New York, 12953
King, North Carolina, 27021
Biscoe, North Carolina, 27209
Lumberton, North Carolina, 28358
Lexington, North Carolina, 27295
Haw River, North Carolina, 27258
Jacksonville, North Carolina, 28540
Jacksonville, North Carolina, 28540
Jamestown, North Dakota, 58401
Cleveland, Ohio, 44127
Loveland, Ohio, 45140
Manchester , Ohio, 45144
Lorain , Ohio, 44052
Cleveland, Ohio, 44103
Wickliffe, Ohio, 44092
Bainbridge, Ohio, 45612
Canton, Ohio, 44707
Newark, Ohio, 43055
North Hampton, Ohio, 45349
Thomas , Oklahoma, 37865
Tulsa, Oklahoma, 74136
Keota, Oklahoma, 74491
Hooversville, Pennsylvania, 15936
Home, Pennsylvania, 15747
Montogmery, Pennsylvania, 17752
Monroeville, Pennsylvania, 15146
Leesport , Pennsylvania, 19533
Sligo, Pennsylvania, 16255
Orangesburg, South Carolina, 29115
West Columbia, South Carolina, 29170
Pacolet, South Carolina, 29372
Dell Rapids, South Dakota, 57022
Memphis, Tennessee, 38122
Piney Flatts, Tennessee, 37686
Hampton, Tennessee, 37658
Seymour, Tennessee, 37865
Clarksville, Tennessee, 37040
Nashville, Tennessee, 37207
Memphis, Tennessee, 38112
Humboldt, Tennessee, 38343
Nashville, Tennessee, 37206
Lafollette , Tennessee, 37766
San Antonio, Texas, 78223
Killeen, Texas, 76542
Temple, Texas, 76502
Boling, Texas, 77420
Hillsboro, Texas, 76645
Wichita Falls, Texas, 76306
Cisco, Texas, 76437
Winters, Texas, 79567
Rio Grande, Texas, 78582
Moody, Texas, 76557
Harlingen, Texas, 8070
Elsa, Texas, 78453
Pottsboro, Texas, 75076
Honey Grove, Texas, 75446
Richland Hills, Texas, 76180
Center Point, Texas, 78010
Bluff Dale, Texas , 76433
Rocky Mount, Virginia, 24151
Montvale, Virginia, 24122
Roanoke, Virginia, 24122
Bluefield, West Virginia, 24701
Ripley, West Virginia, 25271
Slanesville, West Virginia, 25444
Mount Lookout, West Virginia, 26678
Milwaukee, Wisconsin, 53220
Tomahawk, Wisconsin, 54487

Dollar Tree Inc., based in Chesapeake, Virginia, acquired Family Dollar in 2015 for almost $9 billion. The move was expected to bolster its business and better compete with chains like Walmart and rival Dollar General Corp. But Family Dollar, hurt by unkempt stores and uninspiring assortments, has struggled and pulled down the parent company’s earnings. And the company is under a lot of pressure from activist shareholder Starboard Value Hedge Fund to sell Family Dollar or expand prices at its Dollar Tree stores.

In the latest fourth quarter, Family Dollar reported a 1.4 percent increase in sales at stores opened at least a year. Meanwhile, Dollar Tree had a 3.2 percent increase for that figure.

While prices are lower at Dollar Tree, Neil Saunders, managing director of GlobalData Retail, noted that Family Dollar has a more urban customer who has a lower income than the average Dollar Tree shopper. Most of the purchases at Family Dollar are done on a strict budget, he added.

“Dollar Tree has a much broader customer base, which includes more affluent shoppers,” Saunders wrote. “There are a lot more discretionary purchases made at Dollar Tree, despite the fact all products are a dollar or under. Visits to a Dollar Tree are not always made out of necessity. A lot of people go there out of curiosity and to see what’s on offer.”

The company said Wednesday that it’s seeking rent concessions on the potential 390 stores they want closed. Dollar Tree closes about 75 stores annually.

The company had 15,237 stores in 48 states and five Canadian provinces as of Feb. 2. That’s in line with Dollar General’s store count.