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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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November 21, 2014
07:43 EDTFDODollar Tree price target raised to $74 from $68 at UBS
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November 20, 2014
09:30 EDTFDODollar Tree says working to close Family Dollar deal 'as soon as possible'
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November 19, 2014
15:15 EDTFDODollar General affirms commitment to Family Dollar deal, says FTC review ongoing
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15:14 EDTFDODollar General says actively engaged in ongoing FTC review process for deal
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15:13 EDTFDODollar General affirms commitment to Family Dollar acquisition
08:31 EDTFDOFamily Dollar reschedules special meeting of shareholders to December 23
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06:39 EDTFDODollar General may have to sell over 4K stores for deal approval, NY Post says
The Federal Trade Commission may require Dollar General (DG) to sell more than 4,000 of its stores to gain approval of its deal to buy Family Dollar (FDO), according to The New York Post. Dollar General had previously said that it was willing to sell 1,500 of its stores to facilitate the deal, the newspaper stated. Reference Link
November 14, 2014
17:27 EDTFDOPaulson & Co. gives quarterly update on stakes
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November 12, 2014
07:04 EDTFDOFamily Dollar reaffirms recommendation to merge with Dollar Tree
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