Dollar General is planning to close nearly 100 stores by 2026, joining the ranks of Kohl’s, Macy’s, Joann and Forever 21.
The dollar store chain announced it would close 96 Dollar General locations and 45 pOpshelf locations after it released its fourth-quarter earnings report.
The decision comes after “the company initiated a store portfolio optimization review” that “involved identifying stores for closure or re-bannering, based on an evaluation of individual store performance, expected future performance and operating conditions, among other factors,” according to Dollar General.
Although the store closings might seem like a bleak future for the company, Dollar General plans to open “575 new stores in the U.S. and up to 15 new stores in Mexico,” as well as remodel more than 4,000 existing stores.
The closures also represent less than 1% of the dollar store chain’s overall footprint.
While the company has not yet released a specific list of stores that will close, Dollar General has revealed that the store closures will begin this May.
The discount retailer set plans to downsize after several popular stores have been forced to do the same, like Macy’s and Kohl’s. However, unlike Joann and Forever 21, which filed for Chapter 11 bankruptcy and are completely shutting down operations, Dollar General will keep a majority of its stores open worldwide.
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