Family Dollar plans to close 370 underperforming stores nationwide.
The discount store operator will also lower prices on about 1,000 basic items.
The reason is all due to declining sales and revenue. Family Dollar did not provide details on how many jobs were expected to be eliminated or which stores would be closed. The chain expects to cut annual expenses by $40 million to $45 million.
Family Dollar Stores Inc. currently has more than 8,100 stores in 46 states including 3 stores in Terre Haute.