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Family Dollar Stores Inc. (FDO)

  • Tue, Jan. 27, 6:50 AM
    • Trian Fund Management cuts its stake in Family Dollar (NYSE:FDO) to 2.07% from 7.3% after selling close to 6M shares.
    • Last week, Family Dollar shareholders approved the $8.5B sale of the company to Dollar Tree (NASDAQ:DLTR).
    • SEC Form 13D
    | Tue, Jan. 27, 6:50 AM | Comment!
  • Thu, Jan. 22, 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.
    | Thu, Jan. 22, 9:38 AM | 3 Comments
  • Thu, Jan. 22, 2:18 AM
    | Thu, Jan. 22, 2:18 AM | Comment!
  • Thu, Jan. 15, 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.
    | Thu, Jan. 15, 8:20 AM | 1 Comment
  • Thu, Jan. 15, 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.
    | Thu, Jan. 15, 3:13 AM | Comment!
  • Mon, Jan. 12, 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
    | Mon, Jan. 12, 6:55 AM | Comment!
  • Fri, Jan. 9, 8:35 AM
    | Fri, Jan. 9, 8:35 AM | 111 Comments
  • Thu, Jan. 8, 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).
    | Thu, Jan. 8, 8:18 PM | 12 Comments
  • Thu, Jan. 8, 7:21 AM
    • Family Dollar (NYSE:FDO) reports comparable-store sales fell 0.4% in FQ1 as the retailer shifted to an "everyday" pricing strategy.
    • Gross profit rate -90 bps to 33.4% on a higher mix of food and tobacco sales impacted results.
    • Operating profit -170 bps to 3.1%.
    • SG&A expense rate +80 bps to 30.3%.
    • Merchandise inventory +4.1% to $1.71B.
    • Capex spending down 8% on fewer store openings.
    • FDO -1.0% premarket.
    | Thu, Jan. 8, 7:21 AM | Comment!
  • Thu, Jan. 8, 7:21 AM
    | Thu, Jan. 8, 7:21 AM | Comment!
  • Thu, Jan. 8, 7:03 AM
    • Family Dollar Stores (NYSE:FDO): FQ1 EPS of $0.44 misses by $0.18.
    • Revenue of $2.56B (+2.4% Y/Y) misses by $10M.
    • Press Release
    | Thu, Jan. 8, 7:03 AM | Comment!
  • Wed, Jan. 7, 5:30 PM
  • Fri, Jan. 2, 8:51 AM
    • Family Dollar Stores (NYSE:FDO) will report FQ1 results on Jan. 8.
    • The conference call is scheduled to begin at 10.00 a.m. ET.
    • Consensus view is EPS of $0.62 on revenues of $2.57B.
    | Fri, Jan. 2, 8:51 AM | Comment!
  • 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. 23, 2014, 10:31 AM | Comment!
  • Dec. 19, 2014, 9:57 AM
    • Dollar General (DG -1.1%) announces it remains "actively engaged" with the FTC on the amount of store divestitures needed to see the regulator clear a Family Dollar (FDO -0.4%) acquisition.
    • The company says its brief statement will be the last update on the issue prior to the scheduled Family Dollar shareholder meeting on December 23.
    • What to watch: Dollar General is one of the retail names picked by some analysts to see a sales boost tied to lower gas prices in the U.S. The company is already running up against a soft storm-impacted comp from last winter.
    | Dec. 19, 2014, 9:57 AM | Comment!
  • Dec. 11, 2014, 5:52 PM
    • In a new 13D, Elliott Management says it now owns a 7.7M-share (6.8%) stake in Family Dollar (NYSE:FDO).
    • Two months ago, the activist disclosed a 4.9% stake in FDO, and called on the discount retailer to provide Dollar General with "an even playing field in its continuing efforts to acquire the Company." Last week, Dollar Tree said it expects its pending acquisition of FDO to close by early February.
    | Dec. 11, 2014, 5:52 PM | Comment!
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Company Description
Family Dollar Stores Inc provides consumers with a selection of competitively priced merchandise in convenient neighbourhood stores. Its merchandise assortment includes consumables, home products, apparel accessories, seasonal and electronics.