Rhode Island

Dollar Tree to close 1,000 stores. Will this affect any in Rhode Island?

Published

2 months ago

March 14, 2024

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.

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Rhode Island

OSU Basketball: Cowgirls Add Rhode Island Transfer Center

Published

48 mins ago

May 19, 2024

Press Room

OSU Basketball: Cowgirls Add Rhode Island Transfer Center

Oklahoma State has its newest addition for next season.

OSU women’s basketball announced on Saturday that the team has signed Tenin Magassa. As the latest addition to Jacie Hoyt’s team, Magassa will play her fifth season of college basketball in Stillwater.

Magassa adds size for the Cowgirls at 6-foot-5 and could compete for a starting role next season, considering her abundance of experience. Spending the past two seasons at Rhode Island, Magassa emerged as a regular starter for the Rams in 2023-24.

Last season, she averaged seven points, 4.6 rebounds and two blocks. She started 12 of 29 games but also had success off the bench, with four of her six double-figure scoring games coming as a reserve.

As a junior, she played only 14 games near the end of the season. Still, Magassa finished strong and had a season-high 12 points and eight rebounds in the team’s WNIT opening win against Boston University.

READ MORE: OSU Basketball: Former Cowgirl Star Makes First WNBA Start

Before going to Rhode Island, Magassa spent her first two seasons at Dayton. As a freshman, she averaged 9.6 points, 7.3 rebounds and 2.5 blocks to make the A-10 All-Freshman Team.

In 2021-22, she started 19 of her 31 games, helping Dayton go 26-6 and make the NCAA Tournament for the first time in four seasons. Although her usage was down, she still averaged 5.9 points, 6.2 rebounds and 2.1 blocks.

Coming off of an injury-riddled season that kept the Cowgirls out of the NCAA Tournament, Magassa and other additions give the team hope. After a 14-16 season, the Cowgirls are poised to be back competing in the Big 12.

READ MORE: OSU Softball: Poullard and Davis Shine; Cowgirls Take Down Northern Colorado

Want to join the discussion? Like AllPokes on Facebook and follow us on Twitter to stay up to date on all the latest Cowboys news. You can also meet the team behind the coverage.

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Rhode Island

Rhode Island Captures 10th Atlantic 10 Rowing Championship Title

Published

8 hours ago

May 18, 2024

Press Room

Rhode Island Captures 10th Atlantic 10 Rowing Championship Title

PENNSAUKEN, N.J. – Rhode Island won it’s 10^th Atlantic 10 Rowing title, securing the win with a victory in the Varsity 8 Saturday at Cooper River Park.

It’s the third title in the last four years for the Rams, who earn the Atlantic 10’s automatic bid to the NCAA Championship. Rhode won the Varsity 8 and Second Varsity 8 races to secure the victory.

Massachusetts finished second in the standings with 46 points, winning the Varsity 4 and placing second in the Second Varsity 8 and third in the Varsity 8. George Washington placed third overall, just one point behind UMass with 45 points, placing second in the Varsity 8 and third in the Second Varsity 8 and Varsity 4.

Fordham was fourth with 33 points, followed by La Salle (29 points), Saint Joseph’s (26) and Duquesne (21). George Mason and Dayton rounded out the team standings.

Rhody’s Varsity 8 team won a tightly contested grand final over George Washington and Massachusetts with a time of 6:45.204, topping the Revolutionaries (6:49.544) by four seconds.

URI also claimed the Second Varsity 8 with a time of 6:55.6. UMass (6:59.771) and GW (7:02.350) earned silver and bronze respectively.

Massachusetts won the Varsity 4 with a 7:39.620, followed by Saint Joseph’s (7:44,.487) and GW (7:53.112).

UMass also won the two non-scoring events, taking the Varsity 4B at 8:04.765 and the Third Varsity 8 with a 7:22.861. GW was second in the 3V8, clocking in at 7:25.761 and Duquesne was third with a 7:28.857. The Revolutionaries also were second in the Varsity 4B with a 8:12.167 while Rhody was third with a 8:16.705.

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Rhode Island

CHAMPIONS! Rowing Wins 10th Atlantic 10 Title – University of Rhode Island

Published

15 hours ago

May 18, 2024

Press Room

CHAMPIONS! Rowing Wins 10th Atlantic 10 Title – University of Rhode Island

KINGSTON, R.I. – Rhode Island Rowing won its 10th Atlantic 10 Championship in program history on Saturday in thrilling fashion, with racing coming down to the final event on the Cooper River.

The Varsity 8+ crew of coxswain Lily Stasaitis, Catie Castle, Bethany Nordstrom, Nicole Jones, Samantha Gumprecht, Cait Reardon, Emma Barnhart, Sarah Pecoraro and Bella Bruno sprinted past George Washington in the final 1000m of its race for a first-place finish (6:45.2) that lifted URI to the team title.

Rhode Island finished with 51 points, followed by Massachusetts (46 points) and George Washington (45 points).

The Second Varsity 8+ joined the aforementioned boat by finishing first in its event. Coxswain Ellie McGee, Jessica Tosi, Olivia Kowalski, Hailey Pardi, Sammie Gorecki, Eryn Wale, Amanda Cubit, Maia Hembruff and Emma Larsh bested second-place UMass by half a length to pick up what was the team’s first gold medals of the day.

Rhody’s Varsity 4+ crew of coxswain Evelyn Tabor, Emily Olin, Emma Brookins, Jasmyn Hayes and Alexis Moore began the competition amongst the scoring boats with a fourth-place finish (7:55.0). The Third Varsity 8+ just missed the podium as well, crossing the line fourth (7:31.6).

URI’s Second Varsity 4+ crew of coxswain Sawyer McNish, Irma Accius, Anna Kann, Abby Galayda and Brigid McShea placed third in its final with a time of 8:16.7

Castle, Jones and Nordstrom earned spots on the All-Atlantic 10 First Team while Barnhart received a Second Team nod. Head coach Shelagh Donohoe won A10 Coach of the Year for the ninth time in her career.

Rhode Island has secured the conference’s automatic bid to the NCAA Championship, which is being held on East Fork/Harsha Lake in Bethel, Ohio from May 31 through June 2. The Rams will learn of their seeding in the selection show, which is at 5 p.m. on Tuesday, May 21. It will stream live on NCAA.com.

Team Standings
1. Rhode Island – 51
2. Massachusetts – 46
3. George Washington – 45
4. Fordham – 33
5. La Salle – 29
6. Saint Joseph’s – 26
7. Duqeusne – 21
8. George Mason – 11
9. Dayton – 7

Rhode Island Finals Results
Second Varsity 4+ – Grand Final
1. Massachusetts – 8:04.7
2. George Washington – 8:12.1
3. Rhode Island – 8:16.7
4. Fordham – 8:57.2
5. George Mason – 9:09.2

Third Varsity 8+ – Grand Final
1. Massachusetts – 7:22.8
2. George Washington – 7:25.7
3. Duquesne – 7:28.8
4. Rhode Island – 7:31.6
5. Fordham – 7:55.4

Varsity 4+ – Grand Final
1. Massachusetts – 7:39.6
2. Saint Joseph’s – 7:44.4
3. George Washington – 7:53.1
4. Rhode Island – 7:55.0
5. Fordham – 8:09.9
6. Duquesne – 8:19.3

Second Varsity 8+ – Grand Final
1. Rhode Island – 6:55.6
2. Massachusetts – 6:59.7
3. George Washington – 7:02.3
4. LaSalle – 7:09.1
5. Fordham – 7:14.6
6. Duquesne – 7:18.6

Varsity 8+ – Grand Final
1. Rhode Island – 6:45.2
2. George Washington – 6:49.5
3. Massachusetts – 7:00.1
4. Fordham – 7:01.8
5. LaSalle – 7:05.2
6. Saint Joseph’s – 7:12.5