Several major retailers, including Family Dollar, Macy’s and Footlocker, announced that they will be closing stores across the United States, which could negatively impact Arizona customers and employees.The companies behind these closures have cited financial underperformance, inflation, the end of pandemic assistance programs and an uptick in shoplifting.While it was unclear how many stores in Arizona would be closed, these closures come as many retail workers are worried about their livelihood. According to the Center for the Future of Arizona, retail is the fourth largest workforce sector, employing more than 320,000 people in Arizona.Here’s what we know about the major store closures of 2024.Family Dollar and Dollar TreeDollar Tree will close 600 Family Dollar stores in the first half of 2024, the company announced on March 13. It would also allow 370 Family Dollar and 30 Dollar Tree stores to close once their lease is finished.There are 88 Family Dollar stores in Arizona, according to the company’s website. At the time of publication, the company did not say how many of these stores would be closed.Despite these closures, Chairman and Chief Executive Officer Rick Dreiling said he was optimistic about the company’s future.“While we are still in the early stages of our transformation journey, I am proud of what our team accomplished in 2023 and see a long runway of growth ahead of us. As we look forward in 2024, we are accelerating our multi-price rollout at Dollar Tree and taking decisive action to improve profitability and unlock value at Family Dollar.”More:Family Dollar closing nearly 1,000 stores. Here’s what we knowMacy’sOn Feb. 27, Macy’s announced that it planned to close 150 “unproductive” stores, framing the decision as a strategic initiative. The impact of this announcement on the company’s seven department stores in Arizona — six around metro Ph …
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