Dollar Tree Inc. sharply marked down the value of its Family Dollar chain and announced plans to close hundreds of Family Dollar stores this year as the retailer struggles with a business it acquired over three years ago. The company said Wednesday it booked a $2.73 billion charge in its fiscal fourth quarter to lower the value of Family Dollar, which it purchased in 2015 for nearly $9 billion in cash and stock.

Source: Wall Street Journal March 06, 2019 13:05 UTC