Best economy ever, Jack!
President Biden keeps touting the success of Bidenomics. It's all lies, unsurprisingly.
Family Dollar and Dollar Tree will close about 1,000 stores as inflation takes a bite out of consumers' wallets and discount retailers' profitshttps://t.co/G9njkLxOVm
— CNN Breaking News (@cnnbrk) March 13, 2024
Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores.
Family Dollar will close 600 locations this year and 370 stores over the next several years as store leases expire. Family Dollar has around 8,000 US stores.
Dollar Tree, which owns Family Dollar, also said it will close 30 stores as leases expire.
Years of mismanagement and poor conditions in stores have hurt Family Dollar’s brand. The company has struggled as discount competitors such as Dollar General, Walmart and others grew. More recently, inflation has hit Family Dollar customers and the chain’s profits.
“Persistent inflation and reduced government benefits continue to pressure the lower-income consumers that comprise a sizable portion of Family Dollar’s” customer base, CEO Rick Dreiling said Wednesday on a call with analysts.
Read that last paragraph again: persistent inflation.
Biden told is it was under control! Lowest in the world! When, in reality, it's so bad even dollar stores can't keep up.
(By the way, Dollar Tree now charges $1.25 for items, or a 25% increase).
Shouldn't discount retailers be doing better in such an environment?
— мαηιѕн (@_manishkapoor) March 13, 2024
You'd think. But here we are.
Recommended
Inflation or unrelenting theft?
— Matt (@MattPhillips22) March 13, 2024
Embrace the healing power of 'and', friend.
They should just rename themselves to Family Five Dollar and Five Dollar Tree.
— cleophas (@cleophasnyasimi) March 13, 2024
Heading that way, it seems.
Inflation is really affecting the whole world
— Rosemary Okoh (@rosemary_o5485) March 13, 2024
Yes it is.
When the dollar store can't even stay in business, that is a sign of how badly you f&$ked up the economy. https://t.co/L0pNajXUeT
— Phineas J Whoopee, (@j_whoopee) March 13, 2024
Yes it is.
BIDENFLATION at work! https://t.co/ZECoszNyeG
— Oreo Express Normal/Not Mentally Ill (@OreoExpress) March 13, 2024
Working exactly as planned.
Nope nothing to see here…
— Corry Hanson (@HansonCoach) March 13, 2024
Inflation is under control
Bidenomics hard at work https://t.co/o4DIetIG4E
Everything is fine! It's fine!
How many jobs will be lost? This economy is not doing well at all! https://t.co/ryUnHDIWQj
— Stephen Chidhumo (@StephenChidhumo) March 13, 2024
Not only jobs lost, but how many low-income people will lose access to affordable things?
Low Income families are about to be hit HARD https://t.co/8DlIxU9CRO
— JR Kurosaki 🇩🇲🇵🇸 (@HarlemGetsMoney) March 13, 2024
Yep. Like with a semi.
If dollar store can’t survive I think we might need to rethink things. https://t.co/wVuaZeAmAw
— G II (@MisterNickel) March 13, 2024
Time to rethink things, for sure.
i’m never going to financially recover from this https://t.co/aP9NkGmDiP
— Kabrea J. 🌸 (@EuphoriccOne) March 13, 2024
+1000 for the 'Tiger King' reference.
But yet I’m being gaslit and told inflation isn’t happening https://t.co/kLVyrflMLE
— Jared Lewis (@JaredLewis74) March 13, 2024
It's not. Who you gonna believe? The Biden administration or your own lying eyes?
Dollar Tree to close nearly 1K stores amid Biden inflation crisis https://t.co/7awxV98GhD
— Tom Elliott (@tomselliott) March 13, 2024
We're doing great, everyone.
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