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Feb. 25, 2015, 7:58 AM
- Dollar Tree (NASDAQ:DLTR) reports same-store sales rose 5.6% in Q4.
- Gross profit rate +20 bps to 37.1% due in part to higher initial mark-ups and leverage on occupancy and distribution costs.
- SG&A expense rate remained flat at 21.3%.
- Store count +375 Y/Y to 5,367.
- FQ1 Guidance: Net sales: $2.15B to $2.20B; Same-store sales: low to mid single-digit growth; Square footage growth: +6.9%; Diluted EPS: $0.69 to $0.74.
- FY2015 Guidance: Net sales: $9.21B to $9.45B; Same-store sales: low to mid single-digit growth; Square footage growth: +7.2%; Diluted EPS: $3.30 to $3.50.
- DLTR -0.61% premarket.
Feb. 25, 2015, 7:34 AM
- Dollar Tree (NASDAQ:DLTR): Q4 EPS of $1.16 beats by $0.01.
- Revenue of $2.48B (+11.2% Y/Y) beats by $10M.
Feb. 24, 2015, 5:30 PM
Feb. 5, 2015, 9:08 AM
- Kraft Foods (NASDAQ:KRFT) has found a vibrant channel for its Velveeta brand in dollar stores.
- The company was very close to pulling the plug on the product last year amid soft grocery store sales.
- General Mills (NYSE:GIS) and Campbell Soup (NYSE:CPB) are also exploring selling more brands in dollar stores due to the potential for higher profit margins in certain categories.
- The development could aid the dollar store group (DLTR, DG, FDO) which has lost some quick-stop grocery market share to convenience stores.
Feb. 3, 2015, 5:44 PM
- Dollar Tree (NASDAQ:DLTR) says it has learned the FTC is reviewing more than 500 stores as it scrutinizes its plan to acquire Family Dollar (NYSE:FDO), after previously believing that the FTC would require the divestiture of no more than ~300 stores, according to an SEC filing.
- Despite the caution, DLTR still expects the total number of divestitures to be about 300, and hopes to reach an agreement with the FTC by the end of the month.
- FDO shareholders approved a deal last month to be sold to DLTR, choosing regulatory certainty over a riskier but higher offer from Dollar General (NYSE:DG).
Feb. 3, 2015, 12:17 PM
- Retail space continues to open up as more companies look to trim their store counts or reposition themselves in front of mergers or bankruptcies.
- In some cases, the transition is based on repositioning assets to online fulfillment centers.
- A quick scan indicates Sears Holdings (NASDAQ:SHLD), J.C. Penney (NYSE:JCP), RadioShack (NYSE:RSH), Dollar Tree (NASDAQ:DLTR), Wet Seal (NASDAQ:WTSL), Macy's (NYSE:M), Haverty Furniture (NYSE:HVT), Bon-Ton Stores (NASDAQ:BONT), Aeropostale (NYSE:ARO), Rent-A-Center (NASDAQ:RCII), and Wolverine Worldwide (NYSE:WWW) are unloading properties.
- Analysts have warned the flooded market could lead to some disappointing transaction prices or lease rates for the companies involved.
- What to watch: A merger between Staples (NASDAQ:SPLS) and Office Depot (NASDAQ:ODP) or a major retooling from Best Buy (NYSE:BBY) this year could add to the tally.
Jan. 27, 2015, 6:50 AM
Jan. 22, 2015, 9:38 AM
- Shareholders with Family Dollar (NYSE:FDO) have approved the merger offer from Dollar Tree (DLTR +1.8%) as expected.
- 74% of shareholders approved the merger of the discounters.
- FDO trades at $76.20 vs. the buyout price of $74.50.
- Shares of Dollar General (NYSE:DG) are taking the news well, up 2.4% in early trading.
Jan. 22, 2015, 2:18 AM
- Family Dollar (NYSE:FDO) shareholders are expected to vote today in favor of a pending $8.5B merger with Dollar Tree (NASDAQ:DLTR) despite a higher $9.1B offer from Dollar General (NYSE:DG) still on the table, Reuters reports.
- Family Dollar and two influential proxy firms are pushing for the deal with Dollar Tree, which said it would divest as many outlets as required to get antitrust approval.
- Dollar General has said it would only shed up to 1,500 stores.
- Previously: Proxy firms back Dollar Tree's bid for Family Dollar (Jan. 15 2015)
- Previously: Family Dollar sticks with Dollar Tree recommendation (Jan. 12 2015)
Jan. 15, 2015, 8:20 AM
- Dollar General (NYSE:DG) says discussions with the FTC over the company's offer to acquire Family Dollar (NYSE:FDO) are ongoing.
- The company has already has detailed talks with potential buyers for many of the Family Dollar stores which would need to be offloaded if a deal was struck.
- Still, the discounter faces an uphill battle in the attempt to swallow up its sector rival.
- Proxy firms Glass Lewis and ISS have both recommended that Family Dollar shareholders vote to merge with Dollar Tree (NASDAQ:DLTR).
- FDO closed at $76.30 yesterday vs. the DLTR offer price of $74.50 and DG bid of $80.
Jan. 15, 2015, 3:13 AM
- Changing their previous stance, two influential proxy firms, Institutional Shareholder Services and Glass Lewis & Co, have advised Family Dollar (NYSE:FDO) shareholders to vote for the retailer's acquisition by Dollar Tree (NASDAQ:DLTR), saying it was more likely to close as it faced fewer antitrust hurdles.
- Previously, Dollar Tree had said it would divest as many outlets as required to get antitrust approval for the deal, while Dollar General (NYSE:DG) stuck to its offer to shed up to 1,500 stores.
Jan. 12, 2015, 6:55 AM
- Family Dollar (NYSE:FDO) issues an open letter to shareholders in which it recommends they vote to approve a merger with Dollar Tree (NASDAQ:DLTR).
- The company says economic analysis by the FTC on the Dollar Tree combination leads to a count of problematic stores of 310, compared to estimated 3K-4K which would likely be needed to be divested under the Dollar General (NYSE:DG) merger proposal.
- A special meeting of Family Dollar shareholders is set for January 25 to vote on the DLTR offer.
- Full letter
Jan. 9, 2015, 8:35 AM
- The House passed a bill to redefine a full-time worker under the Affordable Care Act to 40 hours a week from 30 hours.
- The legislation could impact millions of workers as companies adjust hours and employee policies around the issue.
- The measure was passed by a vote total of 252-172.
- Senate Majority Leader Mitch McConnell has indicated the bill will see a vote in his chamber.
- The White House has threatened to veto the bill on its view it will reduce the number of workers covered by healthcare.
- Most industry groups within the restaurant and food industry have issued support for the legislation.
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Jan. 8, 2015, 8:18 PM
- Holiday retail sales rose 4.6% vs. expectations for a 3.8% lift, according to a read from ShopperTrak. The growth rate is the highest since 2005 for the period.
- The rush of positive reports from retailers on holiday sales comes off of some beaten-down expectations, notes Chain Store Age.
- Concerns on mall traffic, a West Coast port slowdown, and a frenzied level of promotions drove consensus estimates lower before some macroeconomic factors improved and $2 gas entered the scene.
- A cross-section of retailers that surprised on the upside includes Barnes & Noble, Pier 1 Imports, Walgreens, Urban Outfitters, and Sonic.
- What to watch: Costco (NASDAQ:COST) put up a 5% comp for December, putting some pressure on Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) to show signs of late-quarter strength. Signs of weakness at dollar stores (DG, DLTR, FDO, FIVE) and electronics chains (HGG, CONN, BBY) are a concern. Retailers seen as on-trend for the holiday season include Foot Locker (NYSE:FL), Lululemon (NASDAQ:LULU), and Williams-Sonoma (NYSE:WSM).
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Dec. 23, 2014, 10:31 AM
- The Family Dollar (FDO +0.2%) shareholder meeting has been adjourned to January 22, according to the Charlotte Observer.
- The delay was expected with the FTC yet to finalize its ruling on the amount of store closings it requires in a Dollar General (DG +1%) acquisition of Family Dollar.
- Recap: Dollar General is in with a $9.1B offer for FDO to top the $8.5B Dollar Tree (DLTR +0.9%) bid which is preferred by the target's board
Dec. 16, 2014, 9:21 AM
- Dollar Tree (NASDAQ:DLTR) slides in early action after Deutsche Bank lowers the ratings boom on the discounter after seeing valuation fall in line with expectations.
- Shares are now rated at Hold.
- The investment firm warns that freight costs and merchandise investment could clip margins.
- DLTR -3.6% premarket to $66.12.
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