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Family Dollar to Lower Prices, Close 370 Stores After Rough Second Quarter

After posting lower-than-expected earnings in the second quarter, Family Dollar Stores plans to close 370 stores, cut jobs and slash prices on nearly 1,000 basic items to boost results.
Fox Business -- After posting lower-than-expected earnings in the second quarter, Family Dollar Stores plans to close 370 stores, cut jobs and slash prices on nearly 1,000 basic items to boost results.

Charlotte, N.C.-based Family Dollar plans to improve profits by $40 million to $45 million a year through the store closures and job cuts. The company didn’t specify how many jobs it plans to eliminate.

Starting next year, Family Dollar also intends to slow down the pace of store openings and lower corporate overhead. It expects to open 350 to 400 new stores in fiscal 2015 compared to 525 openings in 2014. In the current fiscal year, Family Dollar will close about 400 locations.

The retailer currently has roughly 8,100 stores across 46 states including the ArkLaMiss. 

Family Dollar has not said which stores they'll be closing. 
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