Note From The Author
The opinion of the author is his own and has no affiliation with the topic that was included. Sources that are used in this article are the following: CNN and for information about individuals, he used Wikipedia.
According to Wikipedia, Family Dollar Stores, Inc. is a chain of discount stores based in the United States. It was the second-largest retailer of its kind in the United States until it was acquired by Dollar Tree in 2015.
At the time of the acquisition, it had over 8,000 locations in all states except Alaska and Hawaii. Its headquarters operations were moved from Matthews, a suburb of Charlotte, North Carolina, to Chesapeake, Virginia, which is located in South Hampton Roads.
Last month I've published a couple of articles about dollar stores like Family Dollar or Dollar General, the latter one not so positively: "Dollar General is Overcharging Customers, Franklin County Auditor Says".
Family Dollar, 2022
According to the December first article "Family Dollar is a mess. It hopes lowering prices will help", The hope of the discount chain is that by lowering prices, they will be able to attract back customers who are on limited budgets.
However, Family Dollar's prices are typically ten percent to fifteen percent higher than those offered by Dollar General and other discount retailers.
Because of the negative impact that higher prices have had on the company's performance, the chain has decided to lower those prices in an effort to become more competitive.
According to the article, lower prices will put a strain on Family Dollar's profits in the short term; however, the executives believe that the measures are necessary to bring the chain back from the brink of collapse.