Family Dollar

MATTHEWS, N.C. — Profit grew by nearly 10% to $123.2 million and sales advanced 8.3% to nearly $2.3 billion as Family Dollar remained on a consistent growth trajectory during its second quarter, ended Feb. 27.

Earnings per share for the period increased 21% to 98 cents, compared with 81 cents in the prior-year's second quarter.

MATTHEWS, N.C. — Family Dollar reported Monday a comparable-store sales increase of 5.1% for the second quarter ended Feb. 26. Net sales for the quarter increased 8.3% to $2.26 billion, from $2.09 billion last year. According to the retailer, warmer weather earlier in the year, as well as strong performance in its consumables and seasonal categories, helped drive sales.

CITY OF COMMERCE, Calif. — First it was Family Dollar; now 99 Cents Only Stores finds itself in buyout talks, as investors are seeing the value in discount store chains.

MATTHEWS, N.C. — Family Dollar on Thursday said "no thanks" to an active investor's takeover bid.

The discount retailer said the buyout offer of $55 to $60 per share, made by Nelson Peltz's Trian Fund, "undervalued" the company. Family Dollar did, however, strike a deal with Marketing Management to help boost its private-label efforts.

Through this strategic alliance, MMI will help Family Dollar with such private-label issues as sourcing, product development, category analytics, assortment strategy, quality assurance and customer insights.

MATTHEWS, N.C. — Family Dollar Stores announced that it has named Paul White to the position of SVP apparel, home and seasonal. White will report to Dorlisa Flur, EVP and chief merchandising officer.