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IPFS News Link • Business/ Commerce

Dollar General and Family Dollar Are Closing Stores, Starting Dec. 3

• Best Life Online

The retail industry has faced incredible volatility over the past few years. With financial challenges born from the COVID pandemic and rising inflation, companies have been forced to analyze their costs and cut locations across the country. Popular chains like Bed Bath & Beyond, CVS, and Best Buy have all closed stores in the U.S. this year alone. Now, even popular dollar store chains, which have risen in popularity during tough economic times, are gearing up to shutter stores. Read on to find out where Dollar General and Family Dollar are closing locations, starting next month.

Dollar stores have fared better than other retailers recently.

U.S. inflation hit a 40-year record high in June when the Consumer Price Index (CPI) jumped up by 9.1 percent, according the Bureau of Labor Statistics (BLS). And while September's CPI was lower at 8.2 percent, it's still much higher than expected. But as other retailers face significant challenges with consumer spending amid increased inflation, dollar store chains have seen substantial growth. In August, The New York Times reported that two of the largest U.S. chains—Dollar General and Dollar Tree (which also owns Family Dollar)—had both seen higher sales and profits in their last quarter.

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