美元樹(shù)十年前以90億美元收購(gòu)的生意,，如今血虧出售
MORNING BREW
2025-04-04
美元樹(shù)為大眾消費(fèi)者提供普惠性折扣,。一群私募股權(quán)投資者已同意以10億美元的價(jià)格收購(gòu)其旗下經(jīng)營(yíng)不善的Family Dollar連鎖店,。對(duì)于美元樹(shù)而言，這無(wú)疑損失慘重,，因?yàn)槭昵八赓Y約90億美元收購(gòu)了Family Dollar,。
Brigade Capital Management和Macellum Capital Management將接管近7000家Family Dollar門(mén)店。這將使美元樹(shù)旗下運(yùn)營(yíng)的門(mén)店數(shù)量減少一半,。
為什么美元樹(shù)無(wú)法讓Family Dollar走向成功呢,？
2015年，當(dāng)美元樹(shù)收購(gòu)Family Dollar時(shí),，出價(jià)超過(guò)了競(jìng)爭(zhēng)對(duì)手達(dá)樂(lè)公司（Dollar General）,，希望借此鞏固自己作為平價(jià)零售商之王的地位。但美元樹(shù)很快發(fā)現(xiàn),，自己收購(gòu)的門(mén)店維護(hù)狀況不佳,，而且Family Dollar的客戶群體與自身存在差異，事實(shí)證明,，很難滿足這些客戶的需求,。
? Family Dollar為低收入消費(fèi)者提供服務(wù),，店內(nèi)銷售一系列價(jià)格親民的家居用品，雖價(jià)格各不相同,，但整體維持在較低水平,。而美元樹(shù)的客戶群體往往收入較高，他們通常在店里購(gòu)買(mǎi)售價(jià)大多在1美元左右的工藝品以及派對(duì)用品,。
? 然而,，當(dāng)Family Dollar和美元樹(shù)的門(mén)店選址相鄰，二者就因相似度太高,，出現(xiàn)了相互分流客源的情況,。此外，該公司還面臨著來(lái)自亞馬遜（Amazon）和沃爾瑪（Walmart）等零售商的激烈競(jìng)爭(zhēng),。
美國(guó)司法部因Family Dollar銷售存放在西孟菲斯倉(cāng)庫(kù)的商品而對(duì)其處以創(chuàng)紀(jì)錄的4160萬(wàn)美元罰款,，讓本就處境艱難的Family Dollar雪上加霜。該倉(cāng)庫(kù)里不僅有活老鼠,，還有死老鼠和腐爛的鼠尸,。
甩掉Family Dollar這個(gè)包袱后……美元樹(shù)昨日表示，它正在擴(kuò)大在高收入消費(fèi)群體中的市場(chǎng)份額,，并考慮在部分門(mén)店實(shí)施提價(jià)策略,，以此作為應(yīng)對(duì)措施，來(lái)抵消特朗普總統(tǒng)加征關(guān)稅所帶來(lái)的經(jīng)濟(jì)壓力,。2021年,，該連鎖店將商品價(jià)格上調(diào)至1.25美元，并表示這樣做能讓門(mén)店提供更多種類的商品,?！R特·梅里特（Matty Merritt）
本報(bào)道由馬特·梅里特（Matty Merritt）撰寫(xiě)，最初由Morning Brew發(fā)布,。（財(cái)富中文網(wǎng)）
譯者：中慧言-王芳
美元樹(shù)為大眾消費(fèi)者提供普惠性折扣,。一群私募股權(quán)投資者已同意以10億美元的價(jià)格收購(gòu)其旗下經(jīng)營(yíng)不善的Family Dollar連鎖店。對(duì)于美元樹(shù)而言,，這無(wú)疑損失慘重,，因?yàn)槭昵八赓Y約90億美元收購(gòu)了Family Dollar。
Brigade Capital Management和Macellum Capital Management將接管近7000家Family Dollar門(mén)店,。這將使美元樹(shù)旗下運(yùn)營(yíng)的門(mén)店數(shù)量減少一半,。
為什么美元樹(shù)無(wú)法讓Family Dollar走向成功呢？
2015年,，當(dāng)美元樹(shù)收購(gòu)Family Dollar時(shí),，出價(jià)超過(guò)了競(jìng)爭(zhēng)對(duì)手達(dá)樂(lè)公司（Dollar General），希望借此鞏固自己作為平價(jià)零售商之王的地位,。但美元樹(shù)很快發(fā)現(xiàn),，自己收購(gòu)的門(mén)店維護(hù)狀況不佳,，而且Family Dollar的客戶群體與自身存在差異，事實(shí)證明,，很難滿足這些客戶的需求。
? Family Dollar為低收入消費(fèi)者提供服務(wù),，店內(nèi)銷售一系列價(jià)格親民的家居用品,，雖價(jià)格各不相同，但整體維持在較低水平,。而美元樹(shù)的客戶群體往往收入較高,，他們通常在店里購(gòu)買(mǎi)售價(jià)大多在1美元左右的工藝品以及派對(duì)用品。
? 然而,，當(dāng)Family Dollar和美元樹(shù)的門(mén)店選址相鄰,，二者就因相似度太高，出現(xiàn)了相互分流客源的情況,。此外,，該公司還面臨著來(lái)自亞馬遜（Amazon）和沃爾瑪（Walmart）等零售商的激烈競(jìng)爭(zhēng)。
美國(guó)司法部因Family Dollar銷售存放在西孟菲斯倉(cāng)庫(kù)的商品而對(duì)其處以創(chuàng)紀(jì)錄的4160萬(wàn)美元罰款,，讓本就處境艱難的Family Dollar雪上加霜,。該倉(cāng)庫(kù)里不僅有活老鼠，還有死老鼠和腐爛的鼠尸,。
甩掉Family Dollar這個(gè)包袱后……美元樹(shù)昨日表示,，它正在擴(kuò)大在高收入消費(fèi)群體中的市場(chǎng)份額，并考慮在部分門(mén)店實(shí)施提價(jià)策略,，以此作為應(yīng)對(duì)措施,，來(lái)抵消特朗普總統(tǒng)加征關(guān)稅所帶來(lái)的經(jīng)濟(jì)壓力。2021年,，該連鎖店將商品價(jià)格上調(diào)至1.25美元,，并表示這樣做能讓門(mén)店提供更多種類的商品?！R特·梅里特（Matty Merritt）
本報(bào)道由馬特·梅里特（Matty Merritt）撰寫(xiě),，最初由Morning Brew發(fā)布。（財(cái)富中文網(wǎng)）
譯者：中慧言-王芳
Dollar Tree really has a discount for everyone. A group of private equity investors agreed to buy the flailing Family Dollar chain for $1 billion, a sharp loss for the Dollar Tree, which acquired it ten years ago for roughly $9 billion.
Brigade Capital Management and Macellum Capital Management will take over the nearly 7,000 Family Dollar stores. That’ll halve the number of stores Dollar Tree operates under its umbrella.
Why couldn’t Dollar Tree make Family Dollar work?
When Dollar Tree bought Family Dollar in 2015, it outbid rival Dollar General in hopes of cementing its status as the king of budget retailers. But Dollar Tree quickly learned that it had snapped up poorly maintained stores and found that Family Dollar had a different customer base that proved to be challenging to serve.
? Family Dollar serves lower-income shoppers and sells a range of household items at varied, but still cheap, price points. Dollar Tree’s customer base tends to have higher incomes and tends to use the store for craft and party supplies that predominantly cost around $1.
? But when Family Dollar and Dollar Tree stores were near each other, they were just similar enough to cannibalize each other’s foot traffic. The business also faced stiff competition from retailers like Amazon and Walmart.
The icing on the small, heavily discounted cake was the Justice Department slapping Family Dollar with a record $41.6 million fine for selling items that were stored in a West Memphis warehouse that was littered with not just live rats, but dead and decaying ones as well.
After it drops the Family Dollar baggage…Dollar Tree said yesterday it’s gaining market share among its higher income customers and may aim to offset President Trump’s tariffs by raising prices at some locations. In 2021, the chain increased prices to $1.25 saying it would allow stores to offer a wider range of products.—MM
This report was written by Matty Merritt and was originally published by Morning Brew.
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