Content about Variety stores

September 5, 2014

Dollar Tree and Family Dollar have amended their merger agreement to include a commitment by Dollar Tree to divest as many stores as necessary or advisable to obtain antitrust clearance for the previously announced cash and stock transaction.

Dollar Tree and Family Dollar have amended their merger agreement to include a commitment by Dollar Tree to divest as many stores as necessary or advisable to obtain antitrust clearance for the previously announced cash and stock transaction.

All other terms and conditions of the merger agreement remain the same as announced on July 28, 2014. The two companies also said that their expectations for a closing date for the transaction have accelerated to as early as the end of November 2014.

August 28, 2014

Dollar General made the case for the superiority of its Family Dollar takeover bid with the release of second quarter results that revealed consistency as well some deceleration in sales and profit growth.

Dollar General made the case for the superiority of its Family Dollar takeover bid with the release of second quarter results that revealed consistency as well some deceleration in sales and profit growth.

August 18, 2014

Dollar General bid $78.50 for Family Dollar Monday morning in a $9.7 billion deal that exceeds the $74.50 a share Dollar Tree offered for Family Dollar on July 28.

Dollar General bid $78.50 for Family Dollar Monday morning in a $9.7 billion deal that exceeds the $74.50 a share Dollar Tree offered for Family Dollar on July 28.

The deal would create a small format powerhouse with nearly 20,000 stores in 46 states and sales of more than $28 billion.

July 28, 2014

Dollar Tree said it would acquire Family Dollar in a transformational cash and stock deal valued at $8.5 billion to create a company with more than 13,000 stores and annual sales of $18 billion.

Dollar Tree said it would acquire Family Dollar in a transformational cash and stock deal valued at $8.5 billion to create a company with more than 13,000 stores and annual sales of $18 billion.

The deal was unanimously approved by the boards of both companies and involves Dollar Tree paying Family Dollar shareholders $59.60 in cash and $14.90 in equivalent Dollar Tree shares.

June 3, 2014

Undeterred by bad weather and competitive pressures that took a toll on its first quarter performance, Dollar General is pressing ahead with plans for 700 new stores, recently opened its 12th distribution center and believes its full year profit forecast is attainable.

Undeterred by bad weather and competitive pressures that took a toll on its first quarter performance, Dollar General is pressing ahead with plans for 700 new stores, recently opened its 12th distribution center and believes its full year profit forecast is attainable.

April 14, 2014

Dollarama has appointed Johanne Choinière as chief operating officer, effective May 12. Choinière will be responsible for overseeing retail store operations as well as logistics, distribution and supply chain management.

Dollarama has appointed Johanne Choinière as chief operating officer, effective May 12. Choinière will be responsible for overseeing retail store operations as well as logistics, distribution and supply chain management.

"I am pleased to welcome Johanne to the Dollarama team. A seasoned operator with an excellent track record and strong leadership qualities, she is an ideal candidate to help support and drive our continued growth and prosperity," said chairman and CEO Larry Rossy.

February 26, 2014

Dollar Tree’s fourth quarter results were affected by the extra week in last year’s fourth quarter as well as continued economic challenges.

Dollar Tree’s fourth quarter results were affected by the extra week in last year’s fourth quarter as well as continued economic challenges.

On a year-over-year basis, net income during the fourth quarter declined about 7% to $213 million from $228.6 million, and during the full year fell about 4% to $596.7 million from $619.3 million.

January 17, 2014

Adverse weather conditions as well as power outages in some of Dollarama’s core markets throughout December 2013 resulted in a significant reduction in store traffic and the temporary closure of approximately 80 stores, for periods ranging from a few hours to two consecutive days. The majority of the impacted days occurred during the two weekends leading up to Dec. 25.

Adverse weather conditions as well as power outages in some of Dollarama’s core markets throughout December 2013 resulted in a significant reduction in store traffic and the temporary closure of approximately 80 stores, for periods ranging from a few hours to two consecutive days. The majority of the impacted days occurred during the two weekends leading up to Dec. 25.

December 6, 2013

Specialty retailer Five Below offered a somewhat muted outlook for holiday sales despite posting impressive growth in third-quarter same-store sales and achieving record expansion in 2013.

Specialty retailer Five Below offered a somewhat muted outlook for holiday sales despite posting impressive growth in third-quarter same-store sales and achieving record expansion in 2013.

The company has opened 60 new stores this year and its same-store sales grew 9% during the period ended Nov. 2. Of the new stores opened this year, 28 came online during the third quarter and 11 of those were in Dallas, a new market for the rapidly expanding company.

December 5, 2013

A record 700 new Dollar General stores are slated to open in 2014, the company announced Thursday morning after reporting third-quarter results and tempering its full-year sales forecast.

A record 700 new Dollar General stores are slated to open in 2014, the company announced Thursday morning after reporting third-quarter results and tempering its full-year sales forecast.

Same-stores sales at Dollar General increased 4.4% and total sales increased 10.5% to $4.38 billion during the third quarter ended Nov. 1. Profits increase 14% to $237 million from $208 million and earnings per share increased 19% to 74 cents from 62 cents.

December 5, 2013

Canadian dollar-store operator Dollarama reported an increase in sales and an improvement in net earnings for the third quarter ended Nov. 3. The quarter was characterized by continued growth in the store network and solid comparable store sales growth.

Canadian dollar-store operator Dollarama reported an increase in sales and an improvement in net earnings for the third quarter ended Nov. 3. The quarter was characterized by continued growth in the store network and solid comparable store sales growth.

Sales for the quarter increased by 14.2% to $522.9 million from $458 million in the year-ago period. The increase was driven, in part, by the growth in the number of stores in the past 12 months, from 761 stores on Oct. 28, 2012 to 847 stores on Nov. 3, 2013.

November 21, 2013

Increased customer traffic helped drive Dollar Tree’s third-quarter results. The retailer cited growth in consumer basics as well as seasonal and variety merchandise, and said its higher margin variety categories are growing at a faster pace.

Increased customer traffic helped drive Dollar Tree’s third-quarter results. The retailer cited growth in consumer basics as well as seasonal and variety merchandise, and said its higher margin variety categories are growing at a faster pace.

The company reported consolidated net sales for the quarter of $1.9 billion, a 9.5% increase from $1.72 billion for the year-ago quarter. Comparable store sales increased 3.1%.

August 12, 2013

Stéphane Gonthier, chief operating officer at Dollarama since September 2007, will be leaving the company to become president and CEO of 99 Cents Only Stores, as well as a member of its board.

CITY OF COMMERCE, Calif. — Stéphane Gonthier, chief operating officer at Dollarama since September 2007, will be leaving the company to become president and CEO of 99 Cents Only Stores, as well as a member of its board. 

Gonthier’s appointment is expected to become effective in the next 60 days. Interim CEO Richard Anicetti, a successful food retailing executive, will return to his role solely as a member of the board.

July 8, 2013

Extreme value retailer 99 Cents Only Stores is getting ready to help one of its customers celebrate her 99th birthday as only it can.

CITY OF COMMERCE, Calif. — Extreme value retailer 99 Cents Only Stores is getting ready to help one of its customers celebrate her 99th birthday as only it can. 

At 7 a.m. Friday, July 19, Mildred "Millie" Fox of Murrieta, Calif., is going to receive a 99-second shopping spree experience and free birthday cake at her local store. It will be 99 Cents Only Stores’ very first 99th birthday celebration.

June 10, 2013

Dollar Tree has promoted Gary Philbin to president and COO. He has served as COO since 2007. Bob Sasser continues to lead the company as its CEO.

CHESAPEAKE, Va. — Dollar Tree has promoted Gary Philbin to president and COO. He has served as COO since 2007. Bob Sasser continues to lead the company as its CEO.

May 23, 2013

Dollar Tree achieved the highest first-quarter operating margin in its history for the first quarter ended May 4.

CHESAPEAKE, Va. — Dollar Tree achieved the highest first-quarter operating margin in its history in the first quarter ended May 4.

Consolidated net sales for the first quarter ended May 4 were $1.9 billion, an 8% increase from $1.7 billion for the quarter ended April 28 last year. The value retailer saw a comparable store sales increase of 2% on top of a 6% increase for the first quarter last year.

March 25, 2013

Fourth quarter same store sales increased 3% at Dollar General as the company capped of another record year and indicated it would open 635 stores this year.

Fourth quarter same store sales increased 3% at Dollar General as the company capped of another record year and indicated it would open 635 stores this year.

Total sales for the company’s 13 week fourth quarter ended February 1, increased 0.5%, to $4.21 billion compared to $4.19 billion during the 14 week fourth quarter the prior year. Excluding the extra week from the prior year’s fourth quarter, sales would have increased 8%. The company said its same store sales increase was driven by consumables and a mix of increased transaction size and customer traffic.

January 24, 2013

Former Food Lion CEO, and current board member for 99 Cents Only Stores, Richard Anicetti, is assuming the role of interim CEO for the discount retailer.

CITY OF COMMERCE, Calif. — Former Food Lion CEO, and current board member for 99 Cents Only Stores, Richard Anicetti, is assuming the role of interim CEO for the discount retailer. In addition, Michael Fung will join the company as interim chief administrative officer overseeing finance, information technology, real estate and various administrative functions of the company.  

In connection with the foregoing changes, Eric Schiffer, Jeff Gold and Howard Gold are no longer employed by the company. 

January 2, 2013

Dollar Tree intends to expand its 603,000-sq.-ft. distribution center in Marietta, Oklahoma by an additional 400,000 sq. ft.

CHESAPEAKE, Va. — Dollar Tree intends to expand its 603,000-sq.-ft. distribution center in Marietta, Oklahoma by an additional 400,000 sq. ft.

The leading operator of discount variety stores in North America which sells everything for no more than $1 will create more than 100 new full-time positions as a result of the expansion.

December 19, 2012

99 Cents Only Stores has revamped its website to better showcase a range of new capabilities, including bulk purchases and in-store pickup of online orders.

COMMERCE, Calif. — 99 Cents Only Stores has revamped its website to better showcase a range of new capabilities, including bulk purchases and in-store pickup of online orders.

October 12, 2012

Canadian dollar-store chain, Dollarama, has named Richard Roy as an independent director of the corporation.

MONTREAL — Canadian dollar-store chain, Dollarama, has named Richard Roy as an independent director of the corporation. Roy will fill the vacancy created among the board of directors by the resignation of Matthew Levin.

Roy will also sit on the audit committee of the corporation, and Huw Thomas, independent director of Dollarama, will replace Levin on the human resources and compensation committee while remaining a member of the audit committee and the nominating and governance committee of the corporation.

September 28, 2012

During a year that saw Dollar General open its 10,000th store and AutoZone opens its 5,000th store, rent-to-own retailer Aaron’s has opened its 2,000th location.

During a year that saw Dollar General open its 10,000th store and AutoZone opens its 5,000th store, rent-to-own retailer Aaron’s has opened its 2,000th location.

The Atlanta-based retailer specializing in the sales and lease ownership of residential furniture, consumer electronics, home appliances and accessories, designated a store in the Bronx, New York as its 2,000th location.

September 5, 2012

Same store sales increased 5.1% at Dollar General during the second quarter and the company remains on track to open more than 600 new stores this year.

Same store sales increased 5.1% at Dollar General during the second quarter and the company remains on track to open more than 600 new stores this year.

Sales increased 10.4% to $3.95 billion during the second quarter ended August 3, thanks to the combination of same store sales growth and the addition of new stores. Net income increased 47% to $214 million in the second quarter compared to $146 million the prior year and earnings per share increased 52% 64 cents, inline with analysts’ consensus estimated, compared to 42 cents the prior year.

August 16, 2012

Profits surged, sales momentum slowed

Sales for the second quarter ended July 28 increased 10.5% to $1.7 billion thanks to a 4.5% increases in same store sales and the addition of 77 new Dollar Tree stores, the company announced Thursday. Net income increased 25.6% to $119.2 million and earnings per share increased 30.8% to 51 cents. The profit performance met analysts’ estimates, but guidance for the third quarter in the range of 47 cents to 51 cents was a penny less than the 52 cents Wall Street expected and shares of the company sold off sharply after the earnings report.

June 28, 2012

Dollar stores continue to thrive in this consumer-conscious economy, and Family Dollar is no exception.

MATTHEWS, N.C. — Dollar stores continue to thrive in this consumer-conscious economy, and Family Dollar is no exception.

The dollar store chain reported a total sales increase of 9.6% to $2.36 billion for the third quarter, compared with $2.15 billion for the same period last year. Same-store sales rose 5%, helped by increased customer traffic and strong performances in the seasonal, electronics and consumables categories.