Dollar Tree, which also operates Family Dollar stores, has announced plans to shut down nearly 1,000 locations over the coming years.
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The news of the decision came Wednesday after the discount retail chain report of lower-than-expected earnings for the fourth quarter.
The company plans to close 600 Family Dollar stores in the first half of this year, with an additional 370 Family Dollar and 30 Dollar Tree stores slated for closure in the following years, according to the Associated Press.
Despite the news, the company did not provide a detailed list of which stores would be affected as of Wednesday afternoon.
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The Levittown area is home to nine stores—six Dollar Trees and three Family Dollars—that are spread across Bristol Borough, Bristol Township, Falls Township, Middletown Township, and Tullytown Borough.
A Family Dollar had recently opened adjacent to a Dollar Tree in a shopping center located on the 4500 block of New Falls Road in Middletown Township’s Levittown section, a move that had puzzled many residents.
Dollar Tree’s acquisition of Family Dollar in 2015 for over $8 billion marked a significant expansion of its discount retail footprint.
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Despite the planned closures, Dollar Tree anticipates a slight increase in net sales for fiscal 2024, projecting between $31 billion and $32 billion, an uptick from the previous fiscal year, according to financial analysis site The Motley Fool.
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