Finance & Capital Management

Dollar General bid $78.50 for Family Dollar Monday morning in a $9.7 billion deal that exceeds the $74.50 a share Dollar Tree offered for Family Dollar on July 28.

The deal would create a small format powerhouse with nearly 20,000 stores in 46 states and sales of more than $28 billion.

Despite an increase of 1% in comparable store sales, Dillard’s CEO William T. Dillard II expressed disappointment in the company’s bottom line performance.

The company’s net sales for the 13 weeks ended Aug. 2 were $1.475 billion, compared to net sales of $1.480 billion for the 13 weeks ended Aug. 3, 2013. Net sales include the operations of the company’s construction business, CDI Contractors.

BJ's Wholesale Club plans to partner with 215 schools through the organization's Adopt-A-School program. At the beginning of each school year, every BJ's Wholesale Club and Distribution Center partners with a local school to help enhance existing curriculum.

Plano, Texas -- J.C. Penney answered Wall Street questions about whether or not the struggling department store retailer could stage a comeback — by posting better-than-expected profit and revenue in the second quarter.

Newell Rubbermaid’s EVP and CFO Doug Martin has resigned from the company effective August 31, to be EVP and CFO at Spectrum Brands, effective September 1.

Newell Rubbermaid has retained Spencer Stuart to help the company search for a new CFO. While that search is underway, John Stipancich, the company's EVP, general counsel, corporate secretary and EMEA leader, has been tapped as interim financial chief.

Little Rock, Ark. – Dillard’s Inc. reported net income of $34.5 million for the second quarter of fiscal 2014, down 5% from $36.5 million the same period the prior year. Increased markdowns and the loss of after-tax credits and gains drove the decline in net income.

Dr Pepper Snapple Group met or exceeded several of its corporate social responsibility goals over the past year, according to the 2014 report the company released Friday.
 
One of the goals it reports meeting was reducing its use of PET, a polymer used in beverage bottles. DPS conserved about 60.7 million pounds since 2007 by redesigning packaging and upgrading almost 70,000 older-model coolers and vending machines.

Walmart held its second U.S. Manufacturing Summit in Denver on Thursday and used the occasion to dole out the first of $10 million in grants designed to stimulate innovation and the creation of U.S. jobs.
 
The initial grants presented this week were given to organizations focused on reducing the cost of textiles manufacturing, including home textiles and apparel, in the U.S. by addressing obstacles throughout production and improving common manufacturing processes with broad application to many types of consumer products.