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.

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

Inside the companies, higher costs for merchandise,.

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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.

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