Dollar Tree considers selling Family Dollar brand

Dollar Tree, a discount retailer, is thinking about what to do with its Family Dollar stores. They might sell them or do something else with them. Dollar Tree bought Family Dollar about ten years ago for over $8 billion. They've had trouble making Family Dollar work well with their business. They plan to close almost 1,000 stores, most of which are Family Dollar stores. Last year, Dollar Tree started looking closely at Family Dollar, and decided to close about 970 stores that weren't doing well. They don't have a set deadline for making decisions about what to do with Family Dollar. Dollar Tree also said they would reopen nearly 200 99 Cents Only stores as Dollar Tree locations. They got permission from a court to do this. Dollar Tree shared their financial results for the first quarter, saying they made a profit of $1.43 per share on revenue of $7.63 billion. For the second quarter, they expect to earn between $1 and $1.10 per share with revenue between $7.3 billion and $7.6 billion. Wall Street analysts think they will earn $1.19 per share on revenue of $7.59 billion. For the whole year, Dollar Tree expects to earn between $6.50 and $7 per share on revenue between $31 billion and $32 billion. Dollar Tree is thinking about selling Family Dollar because it's been struggling. They bought Family Dollar for almost $9 billion in 2015. Dollar Tree's CEO said they are working on making Family Dollar better and focusing on growing Dollar Tree. Dollar Tree's stock fell about 5% after the announcement. Sales at Dollar Tree stores went up by 1.7%, while Family Dollar sales only went up by 0.1%. Dollar Tree's revenue increased to $7.63 billion, which is about 4% more than the previous year. They expect sales for the second quarter to be between $7.3 billion and $7.6 billion. Earnings per share were $1.43, slightly higher than the expected $1.42.