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News Breaks
January 9, 2014
10:17 EDTFDOFamily Dollar 'not happy' with Q1 results, cites increased competition
The company said core lower income customers have faced challenges which have resulted in incremental financial pressure and reduction in overall spend in the market. The operating environment will remain difficult. In hindsight, Family Dollar says it would have made a different decision instead of limiting assortment and layout changes in FY13 given the deteriorating customer trends. However, it says gross margin and inventory growth has stabilized as it is beginning to see better trends in inventory shrinkage and store managing retention. The company said it plans to invest significantly this year and further enhance price image. It also plans to convert three additional distribution centers this year and plans to open 525 new stores this year. It remains on track to complete the chain by around 2016 and new store returns remain strong and initial sales productivity remain consistent between 85%-90% per average store. The company said it remains committed to a 5%-7% annual square footage growth. Comments taken from Q1 earnings conference call.
News For FDO From The Last 14 Days
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October 28, 2014
17:36 EDTFDOFamily Dollar mails proxy materials for December 11 Special Meeting
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October 24, 2014
17:17 EDTFDOHoward Levine reduces stake in Family Dollar to 7.78% from 8.17%
October 21, 2014
17:27 EDTFDOFamily Dollar certifies substantial compliance with FTC
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October 20, 2014
08:31 EDTFDOFamily Dollar sets Oct. 30 as record date for special meeting of stockholders
Family Dollar Stores (FDO) announced that October 30, 2014 has been established as the record date for determining stockholders entitled to receive notice of, and to vote at, the Special Meeting of Stockholders, at which stockholders will be asked to adopt the previously announced merger agreement, as amended, with Dollar Tree (DLTR).
October 17, 2014
17:36 EDTFDOFamily Dollar says will review Elliot notice on directors in due course
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16:09 EDTFDOElliott Advisors expresses concerns over Family Dollar merger, nominates slate
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