Posted on 03/13/2024 7:55:43 AM PDT by george76
Dollar Tree can't keep up with Bidenflation, changing consumer habits, and competition from other discount retailers — and will close nearly 1,000 of its Family Dollar locations around the country. The company announced the move this week following disappointing quarterly results
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"struggling to deal with a shift in consumer spending to lower-margin essentials from higher-margin discretionary products
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Even discount items .. are now out of reach for many Americans who have shifted their buying habits to even "lower-margin essentials" like food and gas.
The mainstream media keeps telling me the economy is booming, but Family Dollar can't cut it in an age when moms are forced to give up the $8 Maybelline Fit Me Concealer so they can put a couple more gallons of gas in the car to get to work in the morning.
It isn't like all of those lost Family Dollar sales simply disappeared into the ether. Some, maybe even most, went to competitors like Walmart. But the big tell here about the actual state of the economy is that discount shoppers didn't move up-market from Family Dollar to Target, but down-market from Family Dollar to Walmart and Dollar Tree.
Even Dollar Tree isn't what it used to be. Inflation forced the company to raise its famous dollar-for-everything price to $1.25 on most items back in 2021. Dollar Tree CEO Michael Witynski said at the time that "the additional price point [allows us] greater flexibility to manage the overall business, especially in a volatile, inflationary environment." But mostly it let the company generate enough revenue to keep growing. Those growth days, at least for the company's Family Dollar outlets, appear to be over.
(Excerpt) Read more at pjmedia.com ...
I used to like getting the cheap $1 cologne there
Can’t anymore - long gone
You get what you pay for. Most of the stuff in Dollar Tree has always been cheap junk.
They just built 6 of them here around the lake (Henderson County, TX).
I thought I heard some old coot shouting about how great our economy is on TV last week… 🤔
Ours is always busy. (SW Wisconsin) Hope it stays. I have a number of NON-CHINA items that I buy there on a regular basis.
New one going up near me.
Not long ago, everything at 99 Cents Only stores cost $.99. Now, very few items can be had for that price.
RuhRoh! Mrs rktman will not be pleased. Guess Dollar General might get demoted to colonel soon......
They ran out of ice cream 🍦🍦🍦🍦?
Who remembers the Five and Dime stores like Woolwoth and Kesge?
Items that are $5.00 today were 5¢ and 10¢ back in the 1950s.
Pretty soon there won’t be any places left to loot...except private residences.
Little Caesars standard Pizza was $5.00 for many years.
Now, in the FJB Biden era, the price has gone up 60% to $8.00 or more.
But the Feral government says we are only experiencing minor inflation in the low single digits.
The value of the Dollar is what has changed, not the value of the goods. The silver value in three 1964 90% silver dimes will still buy a gallon of gas, just like the face value of those same dimes would in 1964. We have a currency whose value floats with the whims of politicians.
What do you expect for a dollar? It’s cheap! They sell a lot of the same stuff you’d find at Walmart, only in reduced sized packages. I know Frito Lay maintained a smaller, Dollar Tree only, package back when I was in the business.
Meanwhile Dolgencorp (Dollar General) just keeps building more and more stores. One was just constructed right across the Susquehanna River from another, and a bridge within a mile of both stores.
I wonder if the Levine family is completely out of the Family Dollar business? Leon Levine lived in a huge house on Sharon Road in Charlotte. Guess the family still owns the property as I read about him passing recently. I met him once, told him I owned some Family Dollar stock. I mentioned it was down. He said “Time to buy some more”. Eventually sold it at a gain. He was right.
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