Family Dollar Closing Stores, Planning Layoffs, Cutting Prices

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Updated: Fri, 11 Apr 2014 10:16:25 EST

Family Dollar plans to cut some jobs and close about 370 underperforming stores as it tries to reverse sagging sales and earnings. The discount store operator will also lower prices on about 1,000 basic items.

Family Dollar did not provide details on how many jobs were expected to be eliminated.

The chain said the store closings and job cuts should reduce annual operating expenses by $40 million to $45 million, starting with the fiscal third quarter. Family Dollar Stores Inc. currently has more than 8,100 stores in 46 states.

Family Dollar has 15 stores in the Macon area with numerous other locations across central Georgia. There's no word on if any local stores will be closed.

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