Very recently, we received the bitter news of Forever 21 permanently closing, and it is also well-known that stores like Family Dollar and Dollar Tree have reduced their footprint by closing several of their flagship locations.
In its fourth-quarter earnings report, the company announced that it will be closing 96 stores and 45 of its Popshelf stores during the first quarter of 2025. The specific branches where this will occur have not yet been detailed. “As we look to build on the substantial progress we made on our Back to Basics work in fiscal 2024, we believe this review was appropriate to further strengthen the foundation of our business,” stated the Dollar General’s CEO in the company’s report.
According to a press release, Dollar General reported its fourth-quarter operating profit decreased by 49% to $294.2 million and was down 30% for the entire fiscal year.