Family Dollar

Family Dollar Stores Inc. has inked a deal with a cloud management firm to improve its operational efficiency and cost competitiveness.

Charlotte, N.C. – Family Dollar Stores Inc. is putting its head in a cloud in order to clear its operations. As part of a three-year agreement, Family Dollar has licensed Cloud360, Cognizant's proprietary, enterprise-class cloud management platform developed on Amazon Web Services for its portal applications.

Chesapeake, Va. - Dollar Tree Inc. is arranging financing for its pending acquisition of Family Dollar Stores Inc. To that end, Dollar Tree has priced a private offering of $$2.5 billion of senior notes due 2023 and $750 million of senior notes due 2020. The 2023 notes will bear an annual interest rate of 5.75% and the 2020 notes will bear an annual interest rate of 5.25%.

Dollar Tree has also arranged for a $1 billion term loan with interest of LIBOR plus 2.25% and a $3.95 billion term loan with interest of LIBOR (subject to a 0.75% floor) plus 3.5%.

Colgate is teaming up with Family Dollar to inspire African-American families during February's Black History Month to honor their past and treasure their future with a healthy smile.

Many Americans, including more than one-third of African-American adults, live with untreated tooth decay. Without proper treatment, tooth decay can progress and eventually result in a cavity or even tooth loss.

Matthews, N.C. – Howard Levine, CEO of Family Dollar Stores Inc., reportedly plans to sell between one and two million shares of company stock in the next 10 days. According to the Charlotte Business Journal, Levine filed his intention to make the sale with SEC.

Less than a week after getting shareholder approval to sell itself to Dollar Tree Inc., Family Dollar said fewer discounts led to increased December sales.

For the month ended Jan. 3, Family Dollar said its sales increased 3.6% to $1.21 billion from a year earlier. Same-store sales increased 1.2%, compared with a 3% decline last December.

New York – Investment fund Trian Fund Management LP has reportedly reduced its stake in Family Dollar Stores Inc. from 7% to a little more than 2%. According to the Wall Street Journal, the fund, headed by activist investor Nelson Peltz, had publicly supported the Family Dollar-Dollar Tree merger.

Triad has an executive on the Family Dollar board. The SEC has confirmed Family Dollar shareholder approval of the Dollar Tree merger.
 

New York -- Dollar General CEO Rick Dreiling had planned to retire in a few months, but after Family Dollar shareholder’s snubbed his company’s buyout offer, Dreiling said he’ll stick around a bit longer.

Last June, Dollar General indicated that Dreiling would step down as CEO effective May 30, or possibly sooner depending on the conclusion of a search for his successor.