“During the fourth quarter of fiscal 2023, the company announced that it had initiated a comprehensive store portfolio optimization review which involved identifying stores for closure, relocation, or re-bannering based on an evaluation of current market conditions and individual store performance, among other factors. As a result of this review, we plan on closing approximately 600 Family Dollar stores in the first half of fiscal 2024. Additionally, approximately 370 Family Dollar and 30 Dollar Tree stores will close over the next several years at the end of each store’s current lease term. In the fourth quarter of 2023, we incurred $594.4 million of charges in connection with the store portfolio review. Additionally, we incurred a goodwill impairment charge of $1.07 billion and a trade name intangible asset impairment charge of $950 million.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on DLTR:
- Dollar Tree price target raised to $165 from $157 at JPMorgan
- Options Volatility and Implied Earnings Moves This Week, March 11 – March 15, 2024
- COST, KR, DLTR: Which “Strong Buy” Retail Stock Is the Best Bet?
- Dollar Tree call volume above normal and directionally bullish
- Dollar Tree price target raised to $170 from $155 at Guggenheim