Dollar Store Near Me Open Today (2024)

FAQs

Why are dollar stores closing in Ohio? ›

Why are Family Dollar, Dollar Tree stores closing? As previously reported, about 600 Family Dollar stores will close in 2024 after parent company Dollar Tree announced it experienced a significant underperformance in 2023.

In an effort to cater to customers who want a more upscale shopping experience, Dollar General is opening retail locations that operate under a different brand. These stores are called pOpshelf, and they're meant to appeal to wealthier and more suburban customers.

Located at 11974 Lebanon Rd. Ste 610 Sharonville, OH.

The retailer blamed economic factors, including rising levels of “shrink,” inflation, and shifting consumer demand that has presented “significant and lasting challenges.” If you've lived in Southern California for a while, you'll remember when the dollar store truly was 99 cents per item or less.

At least 11 retail brands have said they're closing US stores in 2024, totaling up to 1,601 locations. Family Dollar is the largest chain on the list, planning to close at least 600 stores this year. Other companies, such as Walmart and TJX, are closing a few stores while opening many more.

In 2007, private equity firm Kohlberg Kravis Roberts & Co. (KKR) acquired Dollar General in a leveraged buyout transaction for approximately $6.9 billion.

Last year, Dollar General became the first employers to be listed by OSHA as a "severe violator" for repeatedly violating workplace regulations. The chain's stores have also been backdrops for robberies and gun violence.

Dollar Tree acquired Family Dollar in 2015 for over $8 billion after a bidding war with Dollar General, but Wednesday's earnings report signals difficulty in maintaining the value of both brands.

Even though both pOpshelf and Five Below both fill the demand for a wider array of products at relatively low price points, visitors to the two retailers exhibit different consumer behavior. And one component that differentiates these brands is Five Below's expansion beyond the $5 price ceiling.

Size. The average store size is another difference between the two retailers. Dollar Tree stores tend to be bigger and range in size between 8,000 to 12,000 square feet. By comparison, Dollar General stores average 7,400 square feet in total, according to the Securities and Exchange Commission.

Who is Dollar Tree's biggest competitor? ›

Dollar Tree VS Walmart

Walmart is seen as one of Dollar Tree's top competitors. Walmart was founded in 1962, and is headquartered in Bentonville, Arkansas. Like Dollar Tree, Walmart also competes in the Retail industry.

Of the three banners analyzed, Dollar General receives the most visits nationwide – but Dollar Tree comes out ahead in the western United States.

The base price had also been raised to $1.25 in 2021. According to Dreiling, the move was made in order to add new products to their shelves.

Dollar Tree is yet again not sticking to the dollar theme in its name. The company announced last month that it would be increasing the prices on items again. The official prices announced were a minimum of $1.50.

Despite the inclusion of items priced above one dollar, Dollar Tree has retained its brand name for continuity and recognition among consumers. The name "Dollar Tree" still conveys the idea of value and affordability, even if not every item in the store is priced at exactly one dollar.

(WJW) — Last month, the parent company of Family Dollar announced plans to close “multiple” locations in Ohio. In an updated notice to the Ohio Department of Jobs and Family Services, the company has revealed that 35 locations will be impacted including about a dozen in Northeast Ohio.

But Rite Aid is actually closing more stores in three other states — California, Ohio and Michigan, And Rite Aid has announced it will close 137 stores in Ohio, second behind only Michigan. The 137 locations amount to about 19.5% of the 689 announced closings.