Dollar Tree to explore sale of its struggling Family Dollar business
-Dollar Tree said on Wednesday it was exploring options, including a potential sale or spinoff of its Family Dollar banner, as the retailer looks to restructure its business amid stiff competition and strained consumer spending.Dollar Tree had said in November last year it was going to review the business, and outlined plans earlier in 2024 to shutter 970 of its Family Dollar stores."The unique needs of each banner at this time ...
The Family Dollar banner has particularly seen its core lower-income customers come under pressure due to reduced government benefits and higher borrowing costs in the last few months. Dollar Tree currently has a market capitalization of $26.2 billion, according to LSEG data. It has raked in about $31 billion in revenue for fiscal 2023, of which Family Dollar accounted for 45%.The retailer also said it expects adjusted profit for fiscal 2024 to be between $6.50 and $7 per share, compared with LSEG estimates of $6.89.
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