Rhode Island
Dollar Tree to close 1,000 stores. Will this affect any in Rhode Island?
Dollar Tree announced Wednesday that it will close nearly 1,000 of its Family Dollar stores after the stores experienced a significant underperformance in 2023, according to a news release from the company.
Dollar Tree plans to close about 600 Family Dollar stores in the first half of this year and 370 Family Dollar and 30 Dollar Tree stores over the next several years.
What this means for Rhode Island stores remains unclear, as Dollar Tree has not yet announced which stores will close.
Counting three large chains — Dollar General, Dollar Tree and Family Dollar — plus the smaller One Dollar Zone, which has stores in six states from Pennsylvania to Massachusetts, including one in Rhode Island, the Ocean State has 100 dollar stores, according to store location information on the chains’ websites.
That 100 includes three pairs of Dollar Tree and Family Dollar stores that share an address.
During the fourth quarter of 2023, Dollar Tree underwent a review of its stores performance to identify locations to close, relocate or re-banner, the company said.
“As a result of this review, we plan on closing approximately 600 Family Dollar stores in the first half of fiscal 2024. Additionally, approximately 370 Family Dollar and 30 Dollar Tree stores will close over the next several years at the end of each store’s current lease term,” the company said in the press release.
How did dollar stores start growing so fast?
The recent rapid growth of dollar stores was, to a certain extent, the result of market forces in place before the pandemic that were amplified by the fundamental shift in the economy brought about by COVID-19.
“They’re the fastest growing store format coming out of the pandemic,” Rae Coloura, a marketing professor at Providence College, told The Providence Journal in 2023.
“Stores like Dollar General, Family Dollar, Dollar Tree, they all had these pretty aggressive growth strategies, whereas Targets and Walmarts weren’t growing anymore – they might been reformatting and renovating stores, but they hadn’t really announced any major growth,” said Coloura.
What’s going to happen
Shares of Dollar Tree tumbled more than 14% Wednesday.
For the three months ended Feb. 3, Dollar Tree lost $1.71 billion, or $7.85 per share. A year earlier the Chesapeake, Virginia, company earned $452.2 million, or $2.04 per share.
Dollar Tree, a Fortune 200 Company, operated 16,774 stores across 48 states and five Canadian provinces as of Feb. 3. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada.
Dollar Tree has not revealed when the store closures are set to begin or what states will be affected by this decision.
With reports from USATODAY and The Associated Press.
Rhode Island
Authorities provide update on deadly mass shooting at Brown University in Rhode Island
Authorities said two people were killed and eight more were injured in a mass shooting at Brown University, an Ivy League school in Rhode Island. Authorities said students were on campus for the second day of final exams.
Posted
Rhode Island
RI school superintendent resigns amid antisemitic hazing investigation
A Rhode Island school superintendent has resigned amid an investigation into alleged antisemitic hazing in the district, NBC affiliate WJAR-TV reports.
Smithfield Superintendent Dr. Dawn Bartz announced her resignation in a letter addressed to the school community. Bartz has been on leave since November after a report of hazing at Smithfield High School.
The Jewish Alliance of Rhode Island said five high school football players locked a freshman student in a bathroom, sprayed Lysol at the student and yelled antisemitic slurs.
In her resignation letter, Bartz focused on her successes surrounding academic outcomes, special education and STEM opportunities and other positives for the district, and thanked the community.
“As Smithfield moves forward, I am confident the district will continue to build on this progress
and momentum. I wish all our students, staff, and families continued success in the years ahead,” she wrote.
The letter did not specify a reason for the resignation.
WJAR-TV first reported on the situation on October, when the Bartz released a statement on its investigation.
“The investigation confirmed inappropriate conduct among a small number of students,” Superintendent Dawn Bartz said in a provided statement. “Disciplinary action has been taken in accordance with district policy, and several student-athletes will not participate for the remainder of the season.”
The statement went on to say that there would be mandated training and education in response. However, the involved players were back at practice, which didn’t sit well with the victim’s family. His parents said his son walked into practice and found himself face-to-face with his alleged assailants.
Five football players were initially removed from the team for the remainder of the season but were later reinstated. When asked about the reversal in October, Bartz issued a one-sentence statement saying, “The disciplinary process has concluded and we will not be discussing details involving students.”
Smithfield Town Council President John Tassoni said the situation has deeply divided the community.
“It’s a long time coming,” Tassoni said of Bartz’s resignation. “A lot of people are angry about what happened. A lot of people don’t know the truth of what happened, nor do I.”
An investigation is underway by the school committee’s attorney and a report is expected to be delivered to the school committee sometime next year, Tassoni added. However, some people have concerns about transparency and have floated the possibility of hiring an independent investigator.
The Jewish Alliance of Greater Rhode Island said they want the focus to be on student safety.
“While we can’t speculate on the specific reasons behind the superintendent’s decision to resign, we remain focused on what matters most: that Smithfield schools become a place where Jewish students and all students feel safe, valued, and protected from bias and harassment,” President and CEO Adam Greenman wrote in an email.
Rhode Island
Prosecutors in Rhode Island drop charge against former Bay View athletic director
Prosecutors in Rhode Island dropped a fugitive from justice charge against a former Catholic school athletic director.
John Sung was arrested in East Providence last month. He was wanted in Florida for a non-violent felony.
After his arrest, he was fired from his position at St. Mary Academy Bay View in Riverside.
Broward County court records show Sung was taken into custody last week. He posted bond.
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