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Family Dollar and Dollar Tree will close 1,000 stores

CNN  —  Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores as inflation takes a bite out of consumers’ wallets and low-cost-retailers’ profits. Family Dollar will close 600 locations in the first half of 2024 and 370 stores over the next several years as store leases expire. Dollar Tree, which owns Family Dollar, also said it will close 30 stores as leases expire.