Dollar Tree Loss of $98 Million

Dollar Tree Inc. (Chesapeake, Va.) announced its latest quarterly earnings for the year, which included a loss of $98 million for the months of May through July. Last year, it had shown a profit of $121.5 million for the same quarter.

In July, the retailer acquired Family Dollar stores for $9 billion. According to The Wall Street Journal, these numbers may mean that efforts to improve Family Dollar stores and restore profitability may take longer to achieve than previously thought.

The company is currently overhauling the Family Dollar stores as well as improving operational systems, providing better stocking and increasing some employee’s wages. The company forecasts that within three years of the merger, it will have reached $300 million in annual savings.