Family Dollar

Charlotte Observer
9:24 am
Mon July 28, 2014

Dollar Tree To Acquire Matthews-based Family Dollar For $8.5 Billion

A Family Dollar store.
Credit JeepersMedia / Flickr/

Dollar Tree, the nation’s leading discount variety store, announced Monday morning that it is buying Matthews-based Family Dollar Stores Inc.

The cash-and-stock deal has a value of $8.5 billion, company officials said. It heads off a potentially long and ugly proxy fight with activist investor Carl Icahn, who has been pushing to force a sale of the company.

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Local News
5:30 pm
Thu July 10, 2014

Family Dollar Announces Lower Earnings, Plans To Sell Beer And Wine

Credit WFAE

Family Dollar yesterday announced net income for the third quarter fell by 33 percent to $81.1 million. Same store sales dropped 1.8 percent over the same period last year. 

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Local News
3:50 pm
Thu July 3, 2014

Icahn Exercises Option And Buys 9.4% Stake In Family Dollar

Credit WFAE

Billionaire activist investor Carl Icahn Wednesday exercised his stock options and became Family Dollar’s largest shareholder. The stock price for the Matthews-based company has gone up 8 percent since Icahn started pushing for a sale.

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Local News
4:49 pm
Fri June 20, 2014

Activist Investor Icahn Demands Immediate Sale Of Family Dollar

Credit WFAE

Billionaire activist investor Carl Icahn is demanding that Family Dollar be put up for sale immediately.  Icahn earlier this month bought a 9.4 percent share in the Matthews-based discount retailer, making him the company’s largest shareholder. Family Dollar’s board immediately enacted a so-called “poison pill” measure to prevent Icahn or other large investors from buying a controlling stake in the company.

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Local News
4:15 pm
Mon June 9, 2014

Family Dollar Implements Poison Pill

Credit WFAE

Family Dollar is attempting to avoid a potential hostile takeover after an investor announced Friday he bought a nearly 9.5 percent stake in the Matthews-based company.

The company has implemented what’s called a “poison pill.”  That’s a strategy companies use to make an acquisition less enticing.  One way a poison pill can be used is by offering current shareholders preferred stock that they can then turn around and sell for a higher premium once their company is taken over.  That makes an acquisition more expensive.   

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Local News
4:27 pm
Thu April 10, 2014

Family Dollar Cutting Stores, Staff And Prices

Credit WFAE

Family Dollar is closing stores, cutting jobs and lowering prices in response to sinking profits. The Matthews-based company announced the changes Thursday.

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9:13 am
Tue January 21, 2014

Family Dollar Profits Drop As Core Customer Struggles

Family Dollar, based in Matthews, has 8,000 stores in 46 states. The company plans to add 525 stores by the end of the year.
Credit WFAE

Matthews-based discount chain Family Dollar started to report record profits about 5 years ago when the country was in a recession.

And now as the economy is recovering, the company seems to be having a bit of trouble holding on to customers it gained during the leaner times. 

But Family Dollar's recent decrease in profits is a little more complicated than that.

In a conference call this month, Family Dollar CEO Howard Levine told investors an economic recovery is underway:

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Family Dollar Markets Message, Image In New
1:00 pm
Fri July 30, 2010

Family Dollar Markets Message, Image In New Directions

The outside of a Family Dollar store.

Amid all the grim economic news the last few years, business has been quite good for dollar store retailers. The tanking economy prompted many people to give them a try.

The trend has helped Matthews-based Family Dollar's stock rise 40 percent in the last 3 years. Now, Family Dollar is trying to position itself for when the economy recovers. It has a new marketing strategy, and the company has hired a full-time ad agency for the first time in its 50-year history.

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