Dollar Tree will be closing 600 of its Family Dollar locations across the U.S. in 2024. 

According to CBS News, the company will also be shuttering an additional 370 Family Dollar stores and 30 Dollar Tree locations when their leases end within the next few years. An estimated 15% of all Family Dollar locations will be closing their doors when it's all said and done. 

In a statement to CBS News, Dollar Tree said that the decision was made following a "comprehensive review of our store portfolio to identify and address underperforming stores and invest in improved store standards and growth."

Closures will affect locations in Alabama, Florida, Illinois, Kansas, and Mississippi among several other states. 

On March 13, the Dollar Tree chain reported $1.7 billion in fourth quarter losses. Those struggles have been attributed to low-income customers hit by inflation and cuts to their government benefits. 

Dollar Tree acquired Family Dollar for over $8 billion in 2015.