Dollar Tree, Squeezed by Weak Spending, Appoints Interim CEO (1)

Dollar Tree Inc. named a new interim chief executive officer as the beleaguered discounter struggles to lure in lower-income consumers and compete against bigger rivals.

Michael C. Creedon Jr., chief operating officer since late 2022, was appointed Dollar Tree’s interim leader as the company looks for a permanent appointment, according to a statement. He replaces Richard W. Dreiling, who stepped down. Dreiling, who previously led rival Dollar General Corp., was CEO of Dollar Tree since January 2023.

Dollar Tree shares jumped 6.1% at 5:08 p.m. in extended New York trading. The stock has plunged about 53% ...