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WEKU
Business
The Associated Press

Dollar Tree to close nearly 1,000 stores as it posts a fourth quarter loss

Dollar Tree Family Dollar Neil Saunders
A customer exits a Dollar Tree store holding a shopping bag on Wednesday, May 11, 2022, in Jackson, Miss. (Rogelio V. Solis/AP)

Dollar Tree swung to a surprise fourth-quarter loss and will close nearly 1,000 stores after the discount retailer slashed the value of a rival chain it acquired almost a decade ago.

Dollar Tree plans to close about 600 Family Dollar stores in the first half of this year and 370 Family Dollar and 30 Dollar Tree stores over the next several years.

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