Craig Family Dollar will close for business in August
May 21, 2014
About seven months ago, Craig's Safeway store closed its doors for good. Another national chain store will be pulling out of the Craig market in August — Family Dollar will be shutting down.
Net sales for the company dropped drastically compared to the first quarter in 2013 — from $2.9 billion to $2.7 billion, according to a press release sent out by Family Dollar.
"Notwithstanding the macro-economic pressure, competitive environment and severe weather, we are not satisfied with our results, and we hold ourselves accountable for improving our performance," Howard R. Levine, Chairman and CEO of Family Dollar, said in a statement. "To that end, we have initiated an in-depth business review to identify opportunities to strengthen our value proposition, increase operational efficiencies and improve financial performance."
The company announced that it would be closing about 370 "underperforming stores."
"While our store, located at 460 Pershing St., will be closing, we look forward to continuing to serve our customers at our other Colorado locations, including Meeker and Walden," said Bryn Winburn, public and media relations manager for Family Dollar.
What the employees of Craig's store will face once it's closed is undetermined, she said.
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"Each of our stores employs between 8 to 10 team members," she said. "We will make every attempt to relocate those team members affected."
Employees at Craig's Family Dollar couldn't provide comment.
Contact Erin Fenner at 970-875-1794 or efenner@CraigDailyPress.com.