Tag Archives: Family Dollar

Family Dollar to Go with Dollar Tree, Turns Down Dollar General

Family Dollar

MATTHEWS, N.C.-Citing antitrust issues, Family Dollar’s board of directors has unanimously rejected Dollar General’s bid to acquire its dollar-store rival, three days after Dollar General made the proposal. On Aug. 18, Dollar General announced its all-cash bid of about $9.7 billion to purchase Family Dollar. In today’s statement, the Family Dollar board unanimously reaffirmed itsMore »

Last updated: August 21, 2014

Dollar General Bids for Family Dollar

Dollar General

GOODLETTSVILLE, Tenn.-A little more than three weeks after Dollar Tree apparently cut a deal to acquire Family Dollar, Dollar General has made its own proposal to purchase its rival dollar-store chain. Dollar General’s bid, which was delivered this morning in a letter to Family Dollar’s board of directors, is for $78.50 a share in cash,More »

Last updated: August 18, 2014

Dollar Tree to Acquire Family Dollar

Dollar Tree

CHESAPEAKE, Va.-In a cash-and-stock deal, Dollar Tree has reached an agreement to purchase Family Dollar for about $8.5 billion, or about $74.50 per share. The transaction, which is slated to close in early 2015, will create a retailer of more than 13,000 stores in 48 states and five Canadian provinces. Annual sales for the combinedMore »

Last updated: July 28, 2014

Family Dollar Net Plummets in Q3

Family Dollar

MATTHEWS, N.C.-Family Dollar posted a third-quarter drop of 32.9 percent, to $81.1 million, as its chairman and CEO, Howard Levine, proclaimed that the company’s restructuring initiatives are on track. In the company’s statement on its results for the quarter, which ended on May 31, Levine said its move to permanently lower its prices is “resonatingMore »

Last updated: July 10, 2014

Icahn Pushes for Family Dollar Sale

Carl Icahn

NEW YORK-Activist investor Carl Icahn has called for an immediate sale of Family Dollar in a letter to Howard Levine, chairman, president and CEO of the dollar-store retailer, which was included in a filing with the United States Securities and Exchange Commission. Earlier this month, Icahn purchased about 9.4 percent of Family Dollar’s stock throughMore »

Last updated: June 20, 2014

Thomas Upped to Head Family Dollar Merchandise Operations

Jeffrey Thomas

MATTHEWS, N.C.-Family Dollar has promoted Jeffrey Thomas to senior vice president of merchandise operations. The move puts Thomas, who was previously vice president of merchant services, in charge of merchandise planning, space planning, merchant services and pricing/analytics. He reports to Jason Reiser, executive vice president and chief merchandising officer, and has succeeded Scott Zucker, whoMore »

Last updated: June 19, 2014

Icahn Buys Block of Family Dollar Shares

Carl Icahn

NEW YORK-Investor Carl Icahn has purchased about 9.4 percent of Family Dollar’s common stock through some of his affiliate companies. According to a filing by Icahn with the U.S. Securities and Exchange Commission, the investor bought the shares “in the belief that they were undervalued.” The filing went on to cite a number of similarMore »

Last updated: June 9, 2014

Family Dollar to Cut Work Force, Close Stores

Family Dollar

MATTHEWS, N.C.-Declaring that “we hold ourselves accountable for improving our performance,” Family Dollar Chairman and CEO Howard Levine said the retailer will reduce its work force and close about 370 underperforming stores, in the wake of second-quarter results which were below the company’s expectations. Net income in the quarter, which ended on March 1, plummetedMore »

Last updated: April 10, 2014