Content about Family Dollar

July 10, 2014

Just a month after activist investor Carl Icahn became Family Dollar’s largest shareholder prompting concerns of a hostile takeover, the company reported its third straight quarterly decline in same-store sales.

Just a month after activist investor Carl Icahn became Family Dollar’s largest shareholder prompting concerns of a hostile takeover, the company reported its third straight quarterly decline in same-store sales.

Same-store sales for the third quarter ended May 31 decreased 1.8% because of fewer customer transactions, partially offset by an increase in the average customer transaction value. Sales in the third quarter of fiscal 2014 were strongest in the consumables category, driven primarily by strong growth in refrigerated/frozen food and tobacco.

June 20, 2014

Just two weeks after Family Dollar adopted a “poison pill” shareholder’s rights plan, billionaire investor Carl Icahn, who recently disclosed he has a 9.4% stake in the discount retailer, has fired back.

Just two weeks after Family Dollar adopted a “poison pill” shareholder’s rights plan, billionaire investor Carl Icahn, who recently disclosed he has a 9.4% stake in the discount retailer, has fired back.

In an open letter to Family Dollar chairman Howard Levine, Icahn demanded that the company be put up for sale immediately. Icahn also said in the letter that he wants three of his representatives added to the Family Dollar board immediately and will take his proposal for a sale directly to shareholders if management doesn’t support it.

June 18, 2014

Jeffrey Thomas was elevated to the role of SVP of merchandise operations at Family Dollar as the retailer looks to reignite sales under the leadership of chief merchandising officer Jason Reiser.

Jeffrey Thomas was elevated to the role of SVP of merchandise operations at Family Dollar as the retailer looks to reignite sales under the leadership of chief merchandising officer Jason Reiser.

Thomas previously served as vp of merchant services and fill a position previously held by Scott Zucker who left the company. Thomas will report to Jason Reiser, Family Dollar’s EVP and chief merchandising officer.

June 9, 2014

Activist investor Carl Icahn on Friday reported a 9.4% stake in Family Dollar, making him the company’s largest shareholder and prompting concerns of a hostile takeover.

Activist investor Carl Icahn on Friday reported a 9.4% stake in Family Dollar, making him the company’s largest shareholder and prompting concerns of a hostile takeover.
 
Family Dollar has responded by adopting a one-year shareholder rights plan with a 10% trigger that would prevent any investor from gaining a controlling interest of the company without board approval.
 

April 10, 2014

Family Dollar plans to close 370 underperforming stores, cut jobs and lower prices on 1,000 basic items following a disappointing second quarter, which was adversely affected by the extra week in last year's quarter, severe weather, holiday promotions and a challenging consumer environment.

Family Dollar plans to close 370 underperforming stores, cut jobs and lower prices on 1,000 basic items following a disappointing second quarter, which was adversely affected by the extra week in last year's quarter, severe weather, holiday promotions and a challenging consumer environment.

The company is also slowing its new store growth beginning in fiscal 2015 to bolster its return on investment. It now anticipates opening 350 to 400 new stores as opposed to approximately 525 stores in 2014.
 

April 3, 2014

Asset protection has been given a high priority at Family Dollar where the operator of more than 8,000 stores said it plans to equip each of its locations with electronic article surveillance (EAS) equipment from Checkpoint Systems.

Asset protection has been given a high priority at Family Dollar where the operator of more than 8,000 stores said it plans to equip each of its locations with electronic article surveillance (EAS) equipment from Checkpoint Systems.

Checkpoint’s technology is already in 3,500 stores and the rollout, said to be one of the fastest in the retail industry, is occurring at a clip of about 120 stores each week.

April 1, 2014

In a move to increase traffic and grow sales Family Dollar said it added 400 products to its food offering and reduced prices on 1,000 other items.

In a move to increase traffic and grow sales, Family Dollar said it added 400 products to its food offerings and reduced prices on 1,000 other items.

As part of the rollout, the operator of more than 8,100 stores enlisted the aid of television personality, author and chef Pat Neely. Plans call for Neely to participate in several special events including a recipe contest in which the challenge is to prepare a meal for four for under $15. The contest winner will receive a cooking experience with Neely at his home in Memphis.

March 24, 2014

Family Dollar has named Brian D. Hancock as SVP of supply chain, reporting to chairman and CEO Howard R. Levine.

Family Dollar has named Brian D. Hancock as SVP of supply chain, reporting to chairman and CEO Howard R. Levine.

March 24, 2014

Family Dollar has named Brian D. Hancock as SVP of supply chain, reporting to chairman and CEO Howard R. Levine.

Family Dollar has named Brian D. Hancock as SVP of supply chain, reporting to chairman and CEO Howard R. Levine.

February 10, 2014

A little more than a month into his new job as chief merchandising officer at Family Dollar, Jason Reiser is refocusing the retailer on its discount store roots and what it means to serve cash-strapped shoppers.

A little more than a month into his new job as chief merchandising officer at Family Dollar, Jason Reiser is refocusing the retailer on its discount store roots and what it means to serve cash-strapped shoppers.

February 5, 2014

CVS Caremark claimed the healthcare high ground by discontinuing the sales of tobacco products but the move comes with a steep price as the company said it will lose $2 billion in revenue and experienced a 17 cents a share profits impact.

CVS Caremark claimed the healthcare high ground by discontinuing the sales of tobacco products but the move comes with a steep price as the company said it will lose $2 billion in revenue and experienced a 17 cents a share profits impact.
 

January 9, 2014

The search is on for a new president and COO at Family Dollar following the resignation of Michael Bloom amid deteriorating financial results and a 3% same store sales decline in December.

The search is on for a new president and COO at Family Dollar following the resignation of Michael Bloom amid deteriorating financial results and a 3% same store sales decline in December.

January 9, 2014

Former Sam’s Club merchant Jason Reiser just got his second promotion in seven months at Family Dollar and now the newly anointed chief merchandising officer has to restore sales growth at the retailer’s 8,000 stores.

Former Sam’s Club merchant Jason Reiser just got his second promotion in seven months at Family Dollar and now the newly anointed chief merchandising officer has to restore sales growth at the retailer’s 8,000 stores.

November 27, 2013

A search is underway for a senior executive to lead Family Dollar’s supply chain efforts following the departure of supply chain EVP Jeffrey Macak who resigned from the company after just two months.

A search is underway for a senior executive to lead Family Dollar’s supply chain efforts following the departure of supply chain EVP Jeffrey Macak who resigned from the company after just two months.

In a brief statement, Family Dollar said Macak resigned for personal reasons effective immediately. Macak joined Family Dollar in early September of this year after a 13-year run at Bed Bath & Beyond where he served as vp of global supply chain.

November 20, 2013

Family Dollar is turning to Propelics, a provider of enterprise mobile strategy and mobile apps, to help it improve its mobile strategy.

Family Dollar is turning to Propelics, a provider of enterprise mobile strategy and mobile apps, to help it improve its mobile strategy.

October 14, 2013

According to an internal memo from Family Dollar president and COO Mike Bloom, Jason Reiser has been elevated to the role of SVP/lead merchandising officer at the company.

According to an internal memo from Family Dollar president and COO Mike Bloom, Jason Reiser has been elevated to the role of SVP/lead merchandising officer at the company.

October 9, 2013

Family Dollar saw strong growth in refrigerated and frozen food, health aids and tobacco, which buoyed sales in consumables to 8.3% for the fourth quarter ended Aug. 31. Despite the increase, comparable store sales for the quarter were flat.

Family Dollar saw strong growth in refrigerated and frozen food, health aids and tobacco, which buoyed sales in consumables to 8.3% for the fourth quarter ended Aug. 31. Despite the increase, comparable store sales for the quarter were flat. 

The company’s total net sales for the quarter increased 5.8% to $2.5 billion compared with total net sales of $2.4 billion in the fourth quarter of fiscal 2012. However, customer traffic and the average customer transaction value were flat during the quarter. 

July 10, 2013

Former Sam’s Club executive Jason Reiser is heading to Family Dollar to be the company's SVP of merchandising. He replaces John Scanlon, who left the company at the end of March.

MATTHEWS, N.C. — Former Sam’s Club executive Jason Reiser is heading to Family Dollar to be the company's SVP of merchandising. He replaces John Scanlon, who left the company at the end of March.

Family Dollar announced the key changes to its merchandising organization on the heels of better-than-expected third quarter results for fiscal 2013 ended June 1. 

June 27, 2013

Expectations are high that Walmart will accelerate expansion of its small format Express stores when 2014 capital expansion plans are announced this fall. If that’s the case, the company will be entering a crowded landscape.

Expectations are high that Walmart will accelerate expansion of its small format Express stores when 2014 capital expansion plans are announced this fall. If that’s the case, the company will be entering a crowded landscape.

Already, Dollar General, Family Dollar and Dollar Tree stores operate upwards of 20,000 units with considerable overlap. Now, new data out this week shows the number of units operated by traditional convenience store retailers, especially the well-capitalized operators of larger format C-stores, continues to grow.

June 13, 2013

With Father’s Day just around the corner, Family Dollar is touting its small-store format, accessible staff and assorted product offerings to draw shoppers into its stores.

MATTHEWS, N.C. — With Father’s Day just around the corner, Family Dollar is touting its small-store format, accessible staff and assorted product offerings to draw shoppers into its stores.

The value retailer is offering greeting cards, apparel and grills, while reminding shoppers that stores carry not only grills but also charcoal, coolers, hot dogs, hamburgers and even condiments.

June 10, 2013

Family Dollar has named Brad Rogers as the company's SVP of real estate. Rogers replaces Keith Gehl, who announced his retirement from the company at the end of June. Rogers will report to chairman and CEO Howard R. Levine.

MATTHEWS, N.C. — Family Dollar has named Brad Rogers as the company's SVP of real estate. Rogers replaces Keith Gehl, who announced his retirement from the company at the end of June. Rogers will report to chairman and CEO Howard R. Levine.

June 10, 2013

Family Dollar has named Brad Rogers as the company's SVP of real estate. Rogers replaces Keith Gehl, who announced his retirement from the company at the end of June. Rogers will report to chairman and CEO Howard R. Levine.

MATTHEWS, N.C. — Family Dollar has named Brad Rogers as the company's SVP of real estate. Rogers replaces Keith Gehl, who announced his retirement from the company at the end of June. Rogers will report to chairman and CEO Howard R. Levine.

May 20, 2013

Family Dollar has named Trade Area Systems, a supplier of enterprise market knowledge systems for retail, its IT Strategic Partner of the Year. The award was presented during the company’s fifth annual IT Strategic Partner Summit.

MATTHEWS, N.C. — Family Dollar has named Trade Area Systems, a supplier of enterprise market knowledge systems for retail, its IT Strategic Partner of the Year. The award was presented during the company’s fifth annual IT Strategic Partner Summit.

Family Dollar worked with Trade Area Systems in September 2012 to implement TAS Unity, an editable, data-collection software system that allows real estate managers to input photos and comments about stores, competitors and opportunities directly into the system from their mobile devices.

April 29, 2013

Family Dollar has announced that EVP of supply chain Charles S. Gibson will leave the company to pursue other interests.

MATTHEWS, N.C. — Family Dollar has announced that EVP of supply chain Charles S. Gibson will leave the company to pursue other interests.
 
“Charlie has overseen the growth and development of our supply chain network and has been a valued part of our team,” said Howard R. Levine, chairman and CEO. “We appreciate the contributions Charlie has made to the company’s success, and we wish him all the best in his future endeavors.”
 

April 24, 2013

Family Dollar is utilizing TAS Unity, a browser-based enterprise market knowledge system designed to aid retail real estate management from Trade Area Systems.

MATTHEWS, N.C. — Family Dollar is utilizing TAS Unity, a browser-based enterprise market knowledge system designed to aid retail real estate management from Trade Area Systems.