Matthews, NC -
Family Dollar executives were underwhelmed with the financial performance of its stores, so the company announced Thursday it will close 370 under-performing stores across the country.
The company, based in Matthews, N.C., has not indicated if any of it's North Carolina stores will close.
Family Dollar previously announced it would open 525 new stores in 2015, but it is also scaling back it's growth strategy. The company now says it will open 350-400 new stores in fiscal year 2015.
Customers may notice that the stores that remain open may have lower prices. Family Dollar says it will lower prices on 1,000 items.
The company made the decision after disappointing sales in the second quarter.
"Our second quarter results were significantly impacted by severe winter weather, which resulted in numerous store closings, disrupted merchandise deliveries and higher than expected utility and store maintenance expenses," said Howard R. Levine, Family Dollar's Chairman and CEO.
Amanda O'Hara is working on getting more information on the local impact of Family Dollar's changes.