Massive Retailer With Over 100 Massachusetts Stores Planning More Closures

The retail industry continues to take a hit and Massachusetts is no stranger to businesses shuttering stores. For example,  Big Lots, Stop and Shop, Walgreens, Christmas Tree Shops, Bed, Bath and Beyond, and many others either closed underperforming stores or have gone out of business altogether.

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In 2024, discount retail chain Dollar Tree closed hundreds of underperforming stores. According to The U.S. Sun Dollar Tree reported a massive loss on its end of year earnings report, citing a $1.7 billion loss in the fourth quarter of 2024 alone. This is compared to earnings of $452.2 million a year ago. In response, Dollar Tree has said it will close roughly 370 Family Dollar and 30 Dollar Tree stores over the next several years as their leases expire.

There's no word yet on whether any of these upcoming closures will affect Massachusetts stores. It was noted in The U.S. Sun article that Dollar Tree doesn't want to invest in unsuccessful and unprofitable markets.

The retail industry has changed dramatically over the past few years, with more consumers shopping online. Other consumers have had to tighten their belts as inflation continues to rise. Others are having a difficult time trying to make a decent wage, not to mention housing and rent costs keep increasing.

According to the retailer's website, Dollar Tree has over 116 stores in Massachusetts including two in Boston, nine in Worcester, and five in Springfield. Hopefully the Massachusetts stores will be spared. For now we'll have to wait and see.