NC based Family Dollar to cut jobs, close 370 stores

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MATTHEWS, N.C. — Family Dollar says it will be cutting jobs and closing about 370 underperforming stores as the company looks for ways to “improve its financial performance,” according to the Associated Press.

Thursday’s announcement came as Family Dollar reported its profit and revenue declined in the second quarter as a result of bad weather.

The store closings and job cuts should lower annual operating expenses by $40-45 million, starting with the third quarter.

The Matthews based chain has more than 8,100 stores in 46 states.

The company did not specify the number of job cuts.

14 comments

  • Ramona

    I stop at the Family Dollar Store arount 4 times a week. Hope the one on North main street in High Point NC will not close

  • Ramona

    I stop at the Family Dollar Store about 4 times a week and usually make purchases. I hope the one on North Main Street in High Point will not close. There are 2 on Main street (311) this is not the new one but the older one.

  • JT

    Huh–you do know that a ranking Tea Party member owns this chain, right? Guess he’s one of the “job creators” we hear them talking about…

      • JT

        I mean we knew you were a racist pig, but why confirm it? Guess it works for your cycle of hate; now you can complain about all the minorities that are unemployed and ignore your party’s culpability in it.

    • Thomas Christopher

      Yeah, JT, never mind the record number of Americans OUT of the labor market under the Obama Administration (90 million I think it is, now, in addition to record numbers in poverty, on food stamps, etc., etc., etc.) and wait until Obamacare kicks in full-throttle. Or maybe the opening salvo of Obamacare is why Family Dollar, and those evil Tea Party members, are having to close three hundred stores and lay-off 2000 workers due to a heap of new government regulations and insurance requirements (not to mention that little minimum wage increase on the horizon that Obama and the Dems keep pushing). Keep drinking that Hope and Change Kool-Aid, my friend; maybe it will quench your thirst after the Republicans re-take both houses of Congress in November, after they impeach your god Obama, and restore some sanity to this nation in decline. Oh no, I’m a racist for daring to speak out against Obama….God help me!

      • JT

        No, genius–the layoffs from the healthcare reform come from business owners not wanting to do the right thing by providing healthcare for their workers. Sorry, my friend, but the Tea Party is over. That’s why you hear so many of them screaming so loudly. It is called belief preservation–the closer the end of a populist movement, the louder they yell. And of course your party will continue to win the house/senate–you redrew the district lines so redneck cracker Teabaggers will cancel out the vote of educated/minorities, and your racist voter i.d. will keep minorities out of the polls (as it was designed to do). But fear not–liberalism ALWAYS wins in the end. Emancipation, universal manhood suffrage, women’s suffrage, the environmental movement, the civil rights movement–all “radical” liberal ideas that are now realities. Universal health care will be next. So, you have a choice: Get with the program, or get run over as any speedbump in the highway of progress will be.

    • rembrandt

      You’re an idiot, the reason these stores are closely is because they are located in low income , high crime neighborhoods , next it’s dollar tree, then dollar general, and finally walmart. These stores are not profitable because of theft and frivolous litigation. Soon you won’t be able to find a gas station in those slums. You ask for it hood rats.

    • Raven Youngblood

      LOL, That’s just the number of NEW claims being filed…..what about the ones that have already used all of their funds and still can’t find a job?

      Don’t believe all the reports that Sambo and his team send out.

  • nobonusforyou

    Yes, bad weather across, “The Matthews based chain has more than 8,100 stores in 46 states.” is the contributing factor for these closures.

    Stock holders probably yelling at the CFO, not enough, not enough! We pay you 200 million a year in salary and bonuses, not enough, you bad CFO, we take away your bonus if no do better.

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