Family Dollar will cut prices, spruce up stores to meet demand
Family Dollar's parent company said Thursday it plans to cut prices at the discount chain and spruce up its stores in order to boost sales. “Competitive pricing at Family Dollar will over the long term enhance our sales productivity and profitability, and ultimately our opportunity to accelerate store growth," said Mike Witynski, president and CEO of Dollar Tree, which completed its purchase of Family Dollar in 2015. At a time when customers are coming to its stores "to navigate difficult times," the company said, it also planned to improve merchandising and store standards at Family Dollar. In the most recent quarter, the company said it had opened 95 new Family Dollar stores, renovated 257 existing locations and relocated 24 of them. "We believe we are putting our best foot forward," the company said. Meanwhile, rival Dollar General announced Thursday it had opened 436 new stores in the most recent quarter to help meet ongoing demand. “We expect the bus...