Verkkodollar tree on wednesday said it plans to close nearly 1,000 stores over the next several years, after disclosing significant losses in its latest earnings.

Verkkodollar tree (dltr) shares plunged 20% wednesday after the company cut its outlook for the rest of the year, citing “immense pressures” on its.

Verkkodollar tree will close nearly 1,000 stores and swung to a surprise fourth quarter loss as the discount retailer took a related $1. 07 billion goodwill.

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