Family Dollar Announces Closings

Published 04/10 2014 11:29AM

Updated 04/10 2014 09:54PM

(MATTHEWS, N.C.) Family Dollar has announced it will close more than 350 stores, slow new store growth and lower prices after lagging sales reports.

The company plans to close around 370 of its more than 8,000 stores. According to a press release, remaining stores will lower prices on close to 1,000 basic items.

Job loss is also expected to be a part of the restructuring as the company looks to save between $85 million and $95 million from the cuts.

A manager at the St. Joseph store on North 22nd Street was unaware of the restructuring but said she doubted the store would be among those closed due to its sales.

The company cited decreased sales and stock prices for the restructuring.

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