Dollar Tree closes store doors for good after 35 years with ominous warning about alternatives for customers

A MAJOR discount chain is shutting down a popular location in one state, leaving many in the neighborhood worried about the lack of alternatives.

Earlier this year, Dollar Tree announced it would be closing nearly 1,000 locations nationwide after seeing major losses towards the end of 2023.

At the time, the company said it would be closing 600 Family Dollar stores in the first half of fiscal 2024 as well as an additional 370 stores as their leases expire.

In 2023, Dollar Tree reported a profit of $452.5 million.

However, in the fourth quarter of the year, the company reported a net loss of $1.71 billion.

One of the stores shutting its doors was in Boise, Idaho.

The store, located in the Collister Shopping Center on State St. officially closed in late April, according to BoiseDev.

While the closure aligns with Dollar Tree’s March announcement, assistant manager Eric Palmer told the outlet that rent hikes were the main reason behind the store shutting down.

It had reportedly been open in the same location for 35 years.

Palmer claimed the closure would leave a major effect on members of the community, as many reportedly had limited options to travel to the store.

“Especially the elderly, they walk or ride their scooters here because it’s the only store close by,” Palmertold the outlet.

“This closure will impact a lot of people.”

The next closest Dollar Tree to the Collister location is just over 2 miles west.

While the extra distance might only take 5-6 minutes driving, it can take up to an hour walking alongside a major road.

CLOSURE FURY

In other states, fans of the popular bargain chain have taken to social media to express their frustrations over the store closures.

"They can't make a profit from it and the tax write-offs now (plus they haven't been a dollar in forever)," one shopper wrote in a post to X, the social media platform formerly known as Twitter.

"They already closed like every Family Dollar in Ohio as of this month I believe being the final month.”

"Rip Dollar Tree in greenridge plaza SI u were my whole childhood !!" another shopper said of a Staten Island, New York location.

However, some have even said they are glad to see the stores close as one customer said, "I thought they was already closed. Those stores are nasty.”

Store closure roundup

BOSSES at several major retailers have announced a series of store closures. The U.S. Sun takes a look at what chains are to be impacted.

• Walmart supermarkets in El Cajon, California, and Columbus, Ohio, have closed this year.
• Walmart also closed down a Neighborhood Market store in San Diego, California.
• Another Neighborhood Market store in Milwaukee is to close in weeks.
• At least 150 Macy's stores across the US are to close over the next three years. Among the outlets slated to close include the chain's flagship store in Union Square, San Francisco.
• Dollar Tree chiefs announced that 600 Family Dollar outlets will close this year. But the shutdowns do not stop there as another 370 outlets are to close.
• Around 30 Dollar Tree stores will also be closing.
• Best Buy chiefs confirmed 24 outlets closed during the company's 2024 fiscal year.
• The future of 99CentsOnly stores looks uncertain after the discount chain filed for bankruptcy. More than 350 stores could end up closing.

STAYING POSITIVE

Despite the backlash, Dollar Tree executives have remained positive about the company’s revenue and plans for 2024.

"We finished the year strong, with fourth quarter results reflecting positive traffic trends, market share gains, and adjusted margin improvement across both segments," CEO Rick Dreiling said in a press release.

"While we are still in the early stages of our transformation journey, I am proud of what our team accomplished in 2023 and see a long runway of growth ahead of us.

"As we look forward in 2024, we are accelerating our multi-price rollout at Dollar Tree and taking decisive action to improve profitability and unlock value at Family Dollar."

In March, Dollar Tree also said it launched 219 new stores in the fourth quarter of last year, making a total of 641 new openings in 2023.

The company has continued to open new locations amid the closures, including two additional stores in Boise, according to BoiseDev.

Dollar Tree did not immediately respond to The U.S. Sun's request for comment.