Dollar Tree acquired Family Dollar nearly a decade ago but has struggled to keep the chain of stores profitable.
Dollar Tree said Wednesday that it is considering 'a potential sale, spin off or other disposition' of its Family Dollar chain of stores.The announcement comes months after the discount store reported dismal sales in its latest earnings. Dollar Tree lost $1.7 billion in its fourth quarter ended February 3, down sharply from earnings of $452.2 million a year ago, the company said in March. Revenue climbed to $8.6 billion, from $7.
Dollar Tree acquired Family Dollar for more than $8 billion almost a decade ago after a bidding war with rival Dollar General, but it has had difficulty absorbing the chain. 'After almost 10 years of trying to make the Family Dollar acquisition work, Dollar Tree has seemingly thrown in the towel,' Neil Saunders, managing director of GlobalData, said in an email.
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