CNN Business says Family Dollar will close 390 stores this year and make big changes to the stores it is keeping open as the discount chain seeks a turnaround.

Family Dollar, which is owned by the Dollar Tree has over 8,000 stores nationwide. The major difference between the two stores is that Family Dollar sells items that are $10 dollars and under, while the Dollar Tree store products sell for only $1.

The article says that Family Dollar will close nearly 400 stores this year on top of the more than 120 it closed in 2018. It will also re-brand around 200 stores as Dollar Tree this year. Some other Family Dollars will keep the name, but will be stocked with $1 Dollar Tree merchandise and alcohol sections.In a press conference earlier this week, Dollar Tree CEO Gary Philbin said:

'We are confident we are taking the appropriate steps to re-position our Family Dollar brand,'It's worth mentioning that Dollar Tree is planning on stocking higher-priced items (more than $1) at their stores.

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