Dollar General announces 96 store closures. Will it impact MA?
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Dollar General is the latest to join a long list of retailers that are closing stores this year.
In an effort to optimize their stores after a decrease in profits, the dollar discount chain announced last Thursday that it will close 96 stores, as well as 45 of its pOpshelf locations, this year.
Dollar General has not yet announced which locations are closing. While New England does not have any pOpshelf stores, hundreds of Dollar General stores currently operate in the region. It is currently unclear whether New England’s locations will be affected.
There are two Dollar General stores on Cape Cod: Hyannis and West Yarmouth.
Here’s what we know so far.
Why is Dollar General closing locations?
According to the company’s earnings report from Thursday, March 13, Dollar General experienced a decrease in profits during the fourth quarter, as well as a significant decrease in stock market value over the last year.
After a review of individual store performance, expected future performance and operating conditions, the chain has identified 96 Dollar General stores and 45 pOpshelf stores to close, which will downsize the company by approximately 1%.
“We believe this review was appropriate to further strengthen the foundation of our business,” said Todd Vasos, Chief Executive Officer of Dollar General. “While the number of closings represents less than one percent of our overall store base, we believe this decision better positions us to serve our customers and communities.”
How many Dollar General locations are in New England?
As of right now before any closures, Dollar General operates over 19,000 stores across 48 states, including each state in New England. A full list of locations can be found on the store’s website.
Alex Perry of the USA TODAY Network contributed to this report.
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