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Dollar Tree plans to sell alcohol at 1,000 of its Family Dollar stores

  • Dollar Tree will sell alcohol in 1,000 of its Family Dollar stores.
  • Management expects this to encourage more frequent visits to stores.
  • Since Dollar Tree acquired Family Dollar in 2015, it has been a drag on the company's earnings. Dollar Tree is taking steps to improve its sales.

Dollar Tree has a simple solution to the problems of Family Dollar: alcohol.

The Dollar chain of stores announced Thursday that it began selling alcohol at some of the Family Dollar stores and plans to extend this to around 1,000 locations.

It is part of a larger plan to conduct more frequent visits to stores.

CFO Kevin Wampler said in a call to investors on Thursday that the company is "very excited" to offer this new product. A company spokesperson did not immediately respond to Business Insider's request for comments to confirm exactly what would be sold.

Four years have pbaded since Tree of dollars bought Family Dollar, and so far, it has been a disappointing race.

17 The pictures

Items to always buy at the dollar store.

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Paper clips

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Cutlery and plastic plates.

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Aluminum foil, plastic wrap and plastic bags.

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Hair Accessories
– Hair elastics
– Hair clips
– Headbands
– hair brushes

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Greeting cards

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Film sweets

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Party decorations and supplies

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Mail and shipping labels

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Shaving cream

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Cleaning supplies

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Boxes of handkerchiefs

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Scotch tape

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Brand of cosmetics

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Analysts say that Family Dollar has been a drag on Dollar Tree's earnings. In its most recent quarterly results, sales numbers in the same store improved for the Family Dollar brand but grew at a much slower pace than Dollar Tree.

Dollar Tree is taking steps to address this. It is closing down low-performing stores, changing the name of some of its Family Dollar stores to Dollar Tree stores and testing a variety of badortments in certain stores.

And this seems to be paying off. On Thursday, the company said that its new and recently renovated stores, which have more merchandise and more frozen products, have seen an increase in pedestrian traffic and an average increase in sales at the same store of more than 10%. .

Dollar Tree has also been launching a new selection of price products, which cost more than $ 1, in certain stores since May. The company said on Thursday that these initial tests would now be expanded to more than 100 locations in urban, suburban and rural stores.

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