Save now, NJ: Nearly a thousand ‘Dollar’ stores will close in U.S.

The discount retailer Family Dollar, with locations in 75 municipalities across New Jersey, is shuttering stores.

But the move will make just a small dent in the chain's footprint of about 8,000 stores nationwide.

On Wednesday, Family Dollar announced that as a result of its "store portfolio optimization review," approximately 600 stores will close by fall of this year.

And another 370 locations will close "over the next several years" when their leases expire, along with 30 Dollar Tree locations.

Dollar Tree has stores in more than 170 New Jersey towns.

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Dollar Tree, which owns Family Dollar, did not disclose which stores of either chain are on the chopping block.

The company held an earnings conference call on Wednesday. According to CNN, Dollar Tree's CEO told analysts that inflation and reduced government benefits are reducing Family Dollar's customer base.

In the fourth quarter of their fiscal year, same-store net sales rose 6.3% for Dollar Tree, but fell 1.2% for Family Dollar.

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