Dollar Tree announced Wednesday it is considering a sale of its more grocery-focused Family Dollar brand. The company had recently shared plans to close almost 1,000 Family Dollar stores in an attempt to revamp the struggling business. The discounter closed more than 500 locations during its fiscal first quarter, it said Wednesday. “We are already beginning to see progress in this targeted strategy in the streamlined Family Dollar banner,” the company said in a press release. “The unique needs of each banner at this time — transformation at Family Dollar and growth acceleration at Dollar Tree — lead us to the decision to conduct a thorough review of strategic alternatives for the Family Dollar business.” Dollar Tree bought Family Dollar in 2015 for almost $9 billion. The business has been struggling ever since to compete against its major rival, Dollar General. The company has not set a deadline or definitive timetable for the sale review…
