Family Dollar and Dollar Tree to Close 1,000 Stores After $1.71 Billion Net Loss

Family Dollar Store

Dollar Tree and its subsidiary, Family Dollar, will close 1,000 stores following a net loss of $1.71 billion over three months, the discount retailer said Wednesday.

The company plans to close about 600 Family Dollar stores in the first half of this year and allow about 370 Family Dollar stores and 30 Dollar Tree stores to close over the next few years at the end of their lease terms.

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Dollar Tree Will Raise Prices for the First Time in 35 Years Amid Surging Inflation

Dollar Tree announced Tuesday it is raising its prices, bringing the cost of its products over one dollar for the first time in 35 years.

The dollar store will raise its prices by 25%, bringing the cost of its products to $1.25 as customers become accustomed to higher prices across multiple industries, the company announced in its third-quarter 2021 earnings report. Additionally, Dollar Tree said its decision to raise prices is permanent and “not a reaction to short-term or transitory market conditions.”

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Officer Identified, Looting Met with Heavy National Guard Presence in Brooklyn Center

Riot with police officers

The Brooklyn Center police officer responsible for shooting 20-year-old Daunte Wright was identified Monday evening as agitators surrounded the local police station for a second straight night.

According to the Minnesota Bureau of Criminal Apprehension, officer Kim Potter, a 26-year veteran of the force, fired the fatal shot in Sunday’s incident. She is currently on administrative leave and a decision regarding her future with the Brooklyn Center Police Department is expected Tuesday.

Potter mistakenly drew her handgun instead of her Taser when Wright resisted arrest, according to partial body camera video released Monday.

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