Sycamore Partners is set to operate 330 former Family Dollar locations as Dollar Express.
Dollar Tree to identify buyer of 330 Family Dollar locations in coming week.
Dollar Tree on Monday morning acquired Family Dollar Stores in a cash and stock transaction worth about $8.5 billion.
Dollar Tree on Thursday posted first-quarter consolidated net sales of $2 billion, a 7.2% increase, for the period ended May 4.
Dollar Tree on Wednesday posted sales of $2.2 billion for the fourth quarter ended Feb. 1, down slightly by 0.9%.
Increased customer traffic helped drive Dollar Tree’s third-quarter results. The retailer cited growth in consumer basics, as well as seasonal and variety merchandise, and said its higher-margin variety categories are growing at a faster pace.
Dollar Tree generated 3.7% in same-store sales for its second quarter ended Aug. 3, beating analyst estimates, and recorded $1.9 billion in consolidated net sales, an 8.8% increase.
The retailer has grown steadily according to president and CEO Bob Sasser, leading the company to expand its Marietta, Okla. distribution center.
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