The discount business Dollar Tree announced on Wednesday that it is selling Family Dollar for $1 billion to two private equity firms, a decade after it bought the discount chain for over $8 billion.
Read More Dollar Tree To Sell Family Dollar For $1B, 10 Years After $8B Purchase
With CVS, Big Lots, and other businesses closing several locations across the U.S. this year, the number of store closures is up by 69%, increasing tremendously in 2024.
Read More Retail, Chain Store Closures Have Surged 69% In 2024: Which Were Affected?
Wall Street’s main indexes climbed on Wednesday, while investors awaited comments from Federal Reserve Chair Jerome Powell later in the day.
Read More Tech rally drives S&P 500, Nasdaq to record highs; Powell comments in focus
Nearly every day, Latrina Begley, 37, of Nashville, or one of her six children, shopped at the Family Dollar down the hill from their home.
Read More When the dollar store closes, US families on food benefits lose a lifeline
Dollar General stores plummeted on Thursday after the discount retailer cut its sales and profit guidance for the entire year, alluding to the fact that lower-income customers are struggling with the economy.
Read More Dollar General Shares Plummet 25%, Company Blames Economy For ‘Financially Constrained’ Customers
The FTCwill argue Kroger’s $25 billion merger with rival grocer Albertsons is bad for shoppers and workers when the agency’s lawsuit goes to trial in federal court.
Read More US FTC’s bid to block Kroger-Albertsons merger heads to trial